Cadent, LLC Completes Acquisition of AdTheorent Holding Company, Inc.
June 21 2024 - 8:35AM
AdTheorent Holding Company, Inc. (“AdTheorent” or the “Company”)
(Nasdaq: ADTH), a machine learning pioneer delivering measurable
value for programmatic advertisers, today announced that Cadent,
LLC, a leading provider of platform-based converged TV advertising
solutions and a portfolio company of Novacap, one of North
America’s established private equity firms, completed its
acquisition of AdTheorent for $3.21 per share in
an all-cash transaction that valued AdTheorent at
approximately $324 million.
With the completion of the transaction, AdTheorent’s common
stock has ceased trading and is no longer listed on the Nasdaq
Stock Market and will not trade in any other public market.
Advisors:
Canaccord Genuity acted as financial advisor and McDermott
Will & Emery LLP acted as legal counsel to AdTheorent in
connection with the transaction. Moelis & Company LLC
acted as lead financial advisor, and Baker Botts LLP provided legal
counsel, to Cadent.
About AdTheorent:
AdTheorent uses advanced machine learning technology to deliver
impactful advertising campaigns for marketers. AdTheorent’s
advanced machine learning-powered media buying platform powers its
predictive targeting, predictive audiences audience extension
solutions and in-house creative capability, Studio AT.
Focused on the predictive value of machine learning models,
AdTheorent’s product suite and flexible transaction models allow
advertisers to identify the most qualified potential consumers
coupled with the optimal creative experience to deliver superior
results, measured by each advertiser’s real-world business goals.
AdTheorent is headquartered in New York, with fourteen locations
across the United States and Canada.
AdTheorent is consistently recognized with numerous technology,
product, growth and workplace awards. AdTheorent was named
“Best AdTech Platform” in the 2024 Digiday Media Awards and
was honored with an AI Breakthrough Award and “Most Innovative
Product” (B.I.G. Innovation Awards) for six consecutive years.
Additionally, AdTheorent is the only seven-time recipient of
Frost & Sullivan’s “Digital Advertising Leadership Award.”
In September 2023, evidencing its continued prioritization of its
team, AdTheorent was named a Crain’s Top 100 Best Place to Work in
NYC for the tenth consecutive year. AdTheorent ranked tenth in the
Large Employer Category and 26th Overall in 2023. For more
information, visit adtheorent.com.
About Cadent:
Cadent connects the TV advertising ecosystem. Cadent helps
advertisers and publishers identify and understand audiences,
activate campaigns, and measure what matters – across any TV
content or device. Aperture, the company’s converged TV platform,
simplifies cross-screen advertising through a streamlined workflow
that brings together identity, data, and inventory with hundreds of
integrated partners. For more information, visit cadent.tv.
About Novacap:
Founded in 1981, Novacap is a leading North American private
equity firm with over C$8B of AUM that has invested in more than
100 platform companies and completed more than
150 add-on acquisitions. Applying its sector-focused
approach since 2007 in Industries, TMT, Financial Services, and
Digital Infrastructure, Novacap’s deep domain expertise can
accelerate company growth and create long-term value. With
experienced, dedicated investment and operations teams as well as
substantial capital, Novacap has the resources and knowledge that
help build world-class businesses. Novacap has offices in Montreal,
Toronto, and New York.
For more information, please visit www.novacap.ca.
Investor Contact:
David DeStefano,
ICRAdTheorentIR@icrinc.com(203) 682-8383
Press Contact:
Melanie Berger,
AdTheorentmelanie@adtheorent.com(850) 567-0082
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