USA-based one of the largest independent solutions providers for converged TV advertising, Cadent announced a definitive agreement to acquire all outstanding shares of AdTheorent Holding Company, Inc. (Nasdaq: ADTH), a machine learning pioneer and industry leader delivering measurable value for programmatic advertisers. The company announced the transaction on April 1, 2024. The deal will take place for a cash consideration of USD 3.21 per share.

Purpose of the acquisition by Cadent

The merger creates one of the biggest independent omnichannel audience activation platforms for advertising buyers and sellers. With the support of cutting-edge machine learning and a single media and data marketplace, the recently established company will concentrate on offering enhanced performance advertising solutions that serve both digital and traditional TV markets.

Following the merger, the merged business will work with top holding companies, agency groups, independent agencies, and premium publishers, serving close to 1,000 advertisers. Furthermore, the combination of Cadent’s cookieless household identity graph and AdTheorent’s leadership in ID-independent machine learning and algorithmic audience solutions places the merged firm at the forefront of bringing disparate audiences together.

Customary closing requirements, the outcome of the regulatory review, and AdTheorent shareholder approval are all prerequisites to the transaction. The AdTheorent Board of Directors has approved the transaction, which is anticipated to close in around ninety days.

Cadent’s primary financial advisor is Moelis & Company LLC. Additionally, Baker Botts LLP provides legal guidance, while RBC Capital Markets serves as a financial advisor. AdTheorent is being advised financially by Canaccord Genuity and legally by McDermott Will & Emery LLP in relation to the proposed transaction.

What the Cadent official has to add

Nick Troiano, CEO of Cadent, said, “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. 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.”

What the AdTheorent official has to add

James Lawson, CEO of AdTheorent, further added, “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. At 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.”

What does the Novacap official have to comment

In August 2023, Cadent was acquired by Novacap, a private equity firm based in Montreal. Cadent received funding support and strategic services from Novacap during the deal.

Samuel Nasso, Partner at Novacap and Chairman of the Board of Cadent, said, “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. ”  

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.


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