Telecommunications company Altice, which has operations in Latin America, announced an agreement to acquire the online video advertising platform Teads, valued at €285 million (USD 308 million).
In a press release, Altice reported that Teads, a company founded in 2011, has an audience of more than 1.2 billion unique visitors including 720 million via mobile. In 2016, Teads revenue grew by 44% to an estimated €187.7 million (USD 202.7 million).
Through this acquisition, Altice will provide clients with data-driven, audience-based advertising solutions on multiscreen platforms including TV, digital, mobile and tablets. It will also provide an open and intelligent advertising platform to the media industry, programmers and multichannel video programming distributors.
Altice owns cable TV operator Tricom in Dominican Republic. In this market, it competes with Claro, Aster and Wind Telecom, among others.