"IAS will be acquired by Novacap in a $1.9 billion all-cash deal, ending months of speculation over the ad verification company's future ownership, with the private equity firm set to pay a 22% premium for IAS. The deal is expected to close before the end of 2025, with Vista Equity Partners, IAS' largest shareholder, will also fully exit once the deal completes. IAS CEO Lisa Utzschneider emphasized the plan for continued investment in "AI-first" measurement products, as announced by the company."
"As Digiday reported in June, multiple PE firms had been circling IAS, with Bain Capital and KKR both evaluating potential bids, though talks faltered amid political and economic uncertainty. Bankers also floated the idea of divesting IAS acquisitions, such as Publica, but those conversations stalled due to tariff concerns weighing on valuations."
"For months, Digiday sources had suggested Vista was under pressure to find an exit for IAS, as PE funds typically operate on a ten-year cycle with limited extensions, and Vista's Fund VI, which backed the IAS acquisition in 2018, is approaching that horizon. Industry observers pointed to DoubleVerify's relative stock-market success as another reason Vista might be eager to cash out."
Integral Ad Science will be acquired by Novacap in a $1.9 billion all-cash transaction that carries a 22% premium and is expected to close before the end of 2025. Vista Equity Partners, the largest shareholder, will fully exit upon deal completion. IAS leadership plans continued investment in AI-first measurement products. Multiple private equity firms, including Bain Capital and KKR, evaluated bids but talks faltered amid political and economic uncertainty and tariff concerns that weighed on valuations. IAS traded at a roughly $1.07 billion market cap, substantially below rival DoubleVerify, and the sector faces heightened scrutiny and litigation risks.
Read at Digiday
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