Tuesday, March 21, 2017, 10:01 AM ET|Posted by Will Richmond
Teads, which pioneered the outstream video ad format that has been widely emulated, is being acquired by Altice, the multinational telecom provider. The purchase price is up to 285 million Euros, or approximately $307 million, with 75% paid at closing and the remaining 25% based on Teads’ 2017 revenue performance. Teads’ Executive Chairman Pierre Chappaz and CEO Bertrand Quesada will continue leading Teads.
For Altice, which previously acquired and combined 2 large U.S. cable TV providers Cablevision and Suddenlink over the past 2 years, creating the 4th-largest player in the industry, the Teads deal is a bid to increase its advertising footprint, which the company said will be 700 million Euros or nearly $650 million per year.
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