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AdTheorent Sold for $324m

April 2 2024

Converged TV advertising solutions firm Cadent has agreed the acquisition of measurable programmatic advertising company AdTheorent, for around $324m in cash, or $3.21 per share.

Jim LawsonCadent works for advertisers and publishers, helping them to identify and understand audiences, activate campaigns and measure their success across channels and devices. It operates Aperture, a platform which simplifies cross-screen advertising by bringing together identity, data and inventory.

AdTheorent is headquartered in New York, with fourteen locations across the United States and Canada. The company uses machine learning to power its predictive targeting, geo-intelligence, relationship graph, and in-house creative capability Studio A\T, which allows advertisers to identify the most qualified individuals and optimise creative. The firm also offers a Real-Time Learning Machine (RTLM) allowing mobile advertisers to track post-click behavior across mobile ad channels; segment users; and then target ads.

The firms say their combination will create one of the largest independent omnichannel audience activation platforms for buyers and sellers of advertising, focused on providing expanded performance advertising solutions for both digital and traditional TV markets, powered by advanced machine learning and a unified media and data marketplace. The new company will serve nearly 1,000 advertisers.

Nick Troiano, CEO of Cadent comments: 'Together, Cadent and AdTheorent will enable our customers to drive performance across all strategic audiences, no matter where they consume media or where they are in the sales funnel. We will connect the worlds of programmatic and TV, providing solutions across our partner ecosystem that will drive next-generation omnichannel reach and performance results'.

AdTheorent Chief Executive James Lawson (pictured) says the firm's 'customer-focused culture, award-winning technology and commitment to innovation has helped it to build a strong brand that is a recognized leader in performance-first programmatic advertising'. He adds: 'In Cadent, we've found a partner with a shared commitment to delivering measurable results for customers, and a complementary vision for the future of omnichannel advertising. In an increasingly competitive and evolving adtech sector, we are excited to bring together our teams, technology, and solutions to drive continued value to our customers and our employees'.

The transaction is subject to customary closing conditions, regulatory review and AdTheorent shareholder approval, but has been approved by the AdTheorent Board of Directors and is expected to close in approximately 90 days.

Web sites: www.cadent.tv and www.adtheorent.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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