Cadent To Acquire Performance Advertising Pioneer AdTheorent

Cadent, an independent solutions providers for converged TV advertising, today announced a definitive agreement to acquire all outstanding shares of AdTheorent Holding Co. (Nasdaq: ADTH), a machine learning pioneer for programmatic advertisers, for a cash consideration of $3.21 per share.

The combination of Cadent and AdTheorent, the two say, “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, Cadent CEO. “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 holding companies, agency groups, independent agencies and premium publishers. In addition, AdTheorent’s 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.”

“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, AdTheorent CEO. “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 that acquired Cadent in August 2023, provided strategic services and funding support to Cadent for the transaction.

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.