AdTheorent To Be Acquired By Cadent For $324 Mln

(RTTNews) - AdTheorent Holding Co. Inc. (ADTH) announced on Monday that it has agreed to be acquired by a wholly owned subsidiary of Cadent.

The acquisition is for approximately $324 million, equivalent to $3.21 per share, representing a 17 percent premium to the 60-day volume-weighted average stock price as of March 28, 2024.

The definitive merger agreement also includes a 33-day 'go shop' period that will allow the company to actively seek alternative proposals from interested parties.

The merged company is anticipated to establish one of the biggest standalone omnichannel audience activation platforms for advertisers and sellers and will be driven by advanced machine learning and a unified media and data marketplace.

The transaction is anticipated to be finalized by the third quarter of 2024 and is subject to other standard closing conditions.

Following the completion of the transaction, AdTheorent will transition into a privately held company.