Benzinga | Dec 22, 2021 08:05AM EST

Criteo Reports Execution Of Purchase Deal To Buy IPONWEB For $380M In Cash, Stock

Criteo S.A. (NASDAQ:CRTO) ("Criteo"), the global technology company that provides the world's leading Commerce Media Platform, today announced the execution of the purchase agreement to acquire IPONWEB, a market-leading AdTech company with world-class media trading capabilities, on December 22, 2021.

As previously announced, on December 9, 2021, Criteo entered into exclusive negotiations to acquire the business of IPONWEB Holding Limited for $380 million in a combination of cash and CRTO treasury shares. The purchase agreement was successfully executed following the completion of the information and consultation process of Criteo's works council on December 14, 2021.

With this strategic acquisition, Criteo accelerates its Commerce Media Platform vision to offer better control to its enterprise marketers -- and their agency partners -- by leveraging IPONWEB's well-established DSP and SSP solutions. The acquisition also expands media owner monetization opportunities and provides critical services for first-party data management across the ecosystem. Together with IPONWEB, Criteo will distinguish itself as the commerce media partner of choice on the open internet for the post third-party cookie and identifier world.

Closing of the transaction is expected in the first quarter of 2022, subject to customary regulatory approvals.