Cadent agrees AdTheorent acquisition

The combination of Cadent and AdTheorent will create an omnichannel audience activation platform for buyers and sellers of advertising, with the newly-formed entity focusing on providing expanded performance advertising tools for both digital and traditional TV markets.

The advertising tools would be powered by machine learning and a unified media and data marketplace, the two companies said.

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, with the deal approved by the AdTheorent board of directors and is expected to close in approximately 90 days.

Nick Troiano, chief executive at Cadent, said: “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.

“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.”

James Lawson, chief executive at AdTheorent, added: “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.”