Telco Altice to acquire video ad tech player Teads for $308 million
Another telco is buying an adtech firm — today it’s been confirmed that video ad player Teads is being acquired by Dutch telecom Altice, which has some 50 million fixed and mobile subscribers, the majority of whom are in the U.S. and France. Teads claims its global online video advertising marketplace has more than 1.2 billion unique visitors, including 720 million via mobile.
Teads is being valued at €285 million (~$308 million) “on a cash and debt free basis” by Altice, with the purchase price subject to it meeting certain revenue targets in 2017. Seventy-five percent of the purchase price will be due at closing — with the remaining quarter becoming payable in early 2018, should targets be met.
The pair say they are expecting the acquisition to close in mid-2017, following competition reviews.