Outbrain and Teads join forces for integrated advertising platform

Below are the key highlights; the full and official announcement is posted here: https://www.globenewswire.com/news-release/2024/08/01/2922739/0/en/Category-Leaders-Outbrain-and-Teads-to-Merge-Creating-an-Independent-End-to-End-Advertising-Platform-for-the-Open-Internet.html

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Outbrain and Teads join forces to create an integrated advertising platform for the open internet

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• The merger will create one of the largest advertising platforms on the open internet. It will be distinguished by its ability to deliver results from awareness to sales—across CTV, web, and mobile apps.
• Outbrain will acquire Teads in a transaction valued at approximately $1 billion. This includes $725 million in an upfront payment, $25 million in deferred payments, 35 million Outbrain common shares, and $105 million in convertible preferred capital.
• The companies will combine 20,000 direct advertisers with 10,000 premium media environments, creating one of the largest direct advertising channels on the open internet and connected television (CTV).
• Upon completion of the transaction, Outbrain Chief Executive Officer David Kostman will continue as CEO of the combined company, while current Teads co-CEOs, Bertrand Quesada and Jeremy Arditi, will become co-chairs of the combined company.
• Asaf Porat will serve as Chief Operating Officer and will lead the integration of both companies. Altice, the current owner of Teads, will appoint two board members (one independent) in addition to the existing eight.

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Outbrain entered the Slovenian market with the acquisition of the startup Zemanta in 2017. It has 130 employees in Ljubljana working in its development center and global business functions. Outbrain held its initial public offering (IPO) on the Nasdaq Stock Exchange in New York in 2021.