TripleLift, the next-generation adtech platform focused on native programmatic advertising, has agreed to be acquired by Vista Equity Partners, the private equity firm founded by Robert F. Smith. The terms of the transaction were not disclosed but it has been reported that the transaction values TripleLift at $1.4B.
“We have developed into a leader in the advertising technology space and are excited about our next chapter,” said Eric Berry, Cofounder and CEO of TripleLift. “When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner.”
Berry will remain as CEO when the transaction is expected to close in Q2 2021. Last fall, TripleLift announced that its platform handled $1B> in lifetime advertising spend, with half that amount coming in the preceding twelve months.
Source: Alley Watch
By Reza Chowdhury
