Cadent acquires performance marketing firm AdTheorent for $324 million

TV advertising company Cadent announced its plans to acquire all outstanding shares of AdTheorent, a New York-based programmatic advertising company, for a cash consideration of $3.21 per share. 

Through the acquisition, Cadent seeks to broaden its range of performance advertising solutions, targeting both the digital and traditional television markets. Nearly a year ago, Cadent, which was acquired by Novacap last August, initiated its journey towards cross-platform expansion by acquiring EMX’s supply-side platform, marking its initial venture into digital display inventory. 

“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, CEO of Cadent. “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 merged entity will cater to nearly 1,000 advertisers and collaborate with prominent holding companies, agency groups, independent agencies, and premium publishers. 

“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, CEO of AdTheorent. “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 accelerates growth companies through strategic investments. We’re pleased to empower the Cadent and AdTheorent teams to further their vision of building a leading omnichannel audience platform, by providing the foundational resources necessary to complete a transaction of this scale,” said Samuel Nasso, Partner at Novacap, and Chairman of the Board of Cadent.

The deal is anticipated to finalize within an estimated timeframe of 90 days.