The combination of Cadent and AdTheorent will create one of the largest independent omnichannel audience activation platforms for buyers and sellers of advertising. The newly formed entity will focus on providing expanded performance advertising solutions that cater to both digital and traditional TV markets, powered by advanced machine learning and a unified media and data marketplace.
“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.”
Upon closing, the combined company will serve nearly 1,000 advertisers, and partner with leading holding companies, agency groups, independent agencies, and premium publishers. In addition, AdTheorent’s leadership in ID-independent machine learning and algorithmic audience solutions, combined with Cadent’s cookieless household identity graph uniquely positions the combined company to be at the forefront of unifying fragmented audiences.
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“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 Montreal-based private equity firm which acquired Cadent in August 2023, provided strategic services and funding support to Cadent for the transaction.
“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.
The transaction is subject to customary closing conditions and completion of regulatory review and AdTheorent shareholder approval. The transaction has been approved by the AdTheorent Board of Directors and is expected to close in approximately 90 days.
Moelis & Company LLC is acting as lead financial advisor to Cadent. RBC Capital Markets also is acting as a financial advisor, and Baker Botts LLP is providing legal counsel. Canaccord Genuity is acting as financial advisor and McDermott Will & Emery LLP is acting as legal counsel to AdTheorent in connection with the proposed transaction.
SOURCE: PRNewsWire