Cadent has agreed to buy AdTheorent for $3.21 a share in cash or about $324 million.
AdTheorent uses machine learning to deliver value for programmatic advertisers. Combined, the companies said they will become one of the largest independent omnichannel audience activation platforms for buyers and sellers of advertising.
“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,” said Nick Troiano, CEO of Cadent. “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.”
When the deal closes, the combined company will work for about 1,000 advertisers.
“AdTheorent’s customer-focused culture, award-winning technology and commitment to innovation has helped our team build a strong brand that is a recognized leader in performance-first programmatic advertising,” said James Lawson, CEO of AdTheorent. “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.”
Novacap, the private equity firm that acquired Cadent last year, provided strategic services and funding for the AdTheorent acquisition.
"Novacap accelerates growth companies through strategic investments. We’re pleased to empower the Cadent and AdTheorent teams to further their vision of building a leading omnichannel audience platform, by providing the foundational resources necessary to complete a transaction of this scale,” said Samuel Nasso, partner at Novacap, and chairman of the board of Cadent.
