Criteo is the subject of a takeover approach, in yet another twist in the “will they, won’t they?” fate of the France-founded ad tech firm, which recently relocated its commercial base to Luxembourg, sparking further merger-and-acquisition speculation.
According to media reports, the recently submitted bid from private equity firms Vista Equity Partners and Quinti Capital jointly values the ad tech company at more than $50 per share, citing people familiar with the matter, boosting the company’s market capitalization, which fell 23% year-over-year prior to the speculation, to above $1 billion.
The offer represents a premium of more than 50% to Criteo’s recent share price and values the company at approximately $3.7 billion on an equity basis, per the initial Bloomberg report. Reuters subsequently reported that Criteo’s board has yet to respond to the proposal, while the bidders are said to view the company’s AI capabilities as an opportunity to expand retailers’ and advertisers’ use of its platform.
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