Outbrain to Buy Teads in About $1b Transaction

Outbrain agreed to buy global omnichannel video platform Teads in an approximately $1 billion transaction.

• Deal consisting of $725 million upfront cash and $25 million deferred cash, 35 million shares of common stock of Outbrain, and $105 million of convertible preferred equity
• NOTE: Outbrain Nears Potential Tie-Up With Altice-Owned Teads: Insider
• Altice, the current owner of Teads, will appoint two board members in addition to Outbrain’s existing eight
• Outbrain preliminary 2Q adjusted Ebitda at least $6 million and ex-TAC gross profit $55 million to $57 million

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