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Altice Acquires Teads Valued At US$307 Million
Liz Unamo| 21 de marzo de 2017
Bertrand Quesada y Pierre Chappaz seguirán liderando el negocio
The Dutch Telecom company, Altice entered the process of acquiring ad tech player; Teads, enterprise valued at €285 Million (approx. US$307 Million) on a cash and debt free basis. The acquisition purchase price is subject to Teads achieving certain revenue targets this year. 75% of this will be due at closing and the remaining 25% earn-out is subject to its 2017 revenue performance and will become payable in early 2018. The acquisition is expected to close in mid-2017. The senior management team of Teads, including the Executive Chairman, Pierre Chappaz and CEO, Bertrand Quesada, will continue to lead the business and have agreed to reinvest a significant portion of their proceeds. Chappaz will join Altice’s Management Board responsible for all of its advertising activities. “Convergence of telecoms, content, and advertising is at the core of our business. There is significant incremental value to be generated from our assets. Teads, a powerful business in itself, with major presence in Altice footprint notably in the U.S. and France, will enable us to offer a truly unique value proposition to brands and agencies on one hand and the media industry, programmers and distributors on the other. It is that value proposition – data-driven, measurable and multiscreen – which will enable us to significantly grow our advertising business. We are very excited to partner with Pierre, Bertrand and their talented team” said Michel Combes, CEO at Altice in a press release. “As part of Altice, we will be able to offer even more tailored, data-driven solutions and take our value proposition from the digital world to a multiscreen platform, which includes TV, digital, mobile and tablets. It is this differentiated offering which will allow Altice and Teads to uniquely prosper in the global advertising market” said Chappaz.
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