This Ad Tech Briefing covers the latest in ad tech and platforms for Digiday+ members and is distributed over email every Tuesday at 10 a.m. ET. More from the series →Ad tech is entering another period of change. Private equity’s reported bid for Criteo points to renewed interest in undervalued ad tech assets, while the IAB is proposing a new framework for classifying video advertising. Considered in tandem, the developments reflect an industry redefining both how companies are valued and how digital media is categorized.
Criteo’s take-private offer is just a starting gun
Criteo is the subject of a takeover approach, in yet another twist in the “will they, won’t they?” fate of the France-founded ad tech firm, which recently relocated its commercial base to Luxembourg, sparking further merger-and-acquisition speculation.
The offer, submitted jointly by private equity firms Vista Equity Partners and Quinti Capital, represents a premium of more than 50% to Criteo’s recent share price and values the company at approximately $3.7 billion on an equity basis, per the initial Bloomberg report.
Per Reuters, Criteo’s board has yet to respond to the proposal, while both PE firms are said to be attracted to the company’s AI capabilities, viewing them as an opportunity to expand retailers’ and advertisers’ use of its platform.
