Private equity firm Novacap will buy Integral Ad Science IAS-Q in a deal valuing the target at around US$1.9-billion, the digital ad verification company said on Wednesday.
Novacap, having more than US$10-billion in assets under management, will acquire all of IAS’ outstanding shares for US$10.30 apiece in cash, representing a premium of around 22 per cent to the stock’s last closing. IAS shares were trading about 20 per cent higher before the bell.
Toronto-based Adastra, a tech consulting firm, sold to American private equity giant Carlyle
Power Corp. investment firm Sagard buys European private equity business from Unigestion
The deal, expected to close before the end of this year, is the latest in a string of private equity buyouts of software and technology companies as they bet on artificial intelligence to become strong a strong driver of growth.
Private equity firm Thoma Bravo went on an acquisition spree in recent months, including the buyout of customer engagement platform Verint Systems and HR software company Dayforce.
IAS provides services that include ad verification, fraud detection and optimization to brands and agencies to ensure campaigns are effective and reach their intended audiences.
After the deal closes, IAS will become a privately held company.