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Altice Buys Online Ad Pioneer

Altice N.V., the European telecom company and parent of U.S. cable company Altice USA, said it has purchased online video advertising pioneer Teads, in a deal that values the firm at about $308 million.

Teads, based in France, is the inventor of outstream advertising—which allows video ads to be displayed within the content of a web page—and creates new video inventory for publishers and manages their existing inventory, monetizing it through the publishers’ sales force, its own sales force or programmatic buying. The company grew revenue last year by 44% to $203 million.

Altice said in a statement that the purchase is another component in its global advertising strategy, which is to provide clients with data-driven, audience-based solutions on multiple platforms.

Altice said the purchase price is contingent on Teads reaching certain revenue targets and the deal is expected to close by mid-year.

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Pictures of Money's FlickrImage taken on Sept. 9, 2016 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)