Teads’ M&A rumors are firming up with a deal to merge with Outbrain

The sale of ad tech maven Teads is finally happening, in a reported deal with content recommendation company Outbrain for an undisclosed amount.

The move comes after weeks of speculation, with initial reports of Teads owner Altice Europe pairing with Morgan Stanley to advise on the divestiture of the ad tech asset it acquired for $307 million in 2017.

Speculation over a sale of Teads intensified at this year’s Cannes Lions Festival of Creativity, with sources informing Digiday that Teads’ gross media revenues were in the region of $820 million for its last full financial year in 2023. Outbrain, by comparison, brought in $935.8 million in revenue in 2023, down 6% year over year, according to the company’s earnings. Outbrain’s first quarter 2024 earnings also reported revenue was down 6% year over year, totaling $217 million.

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