CRTO - Criteo to buy AdTech platform company IPONWEB for about $380 million
The purchase accelerates Criteo's (NASDAQ:CRTO) Commerce Media Platform strategy, company transformation, and growth of its 1st-party data capabilities for audience targeting. The company will fund the acquisition through $305 million in cash and $75 million paid in CRTO treasury shares. The proposed transaction is expected to be accretive to Criteo's (CRTO) revenue growth, Adjusted EBITDA, EPS, and Free Cash Flow, adding over $100 million in annual revenue ex-TAC and positive Adjusted EBITDA contribution and cash flows from the start. Criteo also reaffirms its 2021 financial guidance as provided on November 3rd, 2021. The deal is expected to close in the first quarter of 2022.
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Criteo to buy AdTech platform company IPONWEB for about $380 million