Alliance to accelerate the expansion and global innovation of products in connected television (CTV)
TripleLift, one of the world’s largest Ad Technology (AdTech) platforms, announced today that it has entered into a definitive agreement to receive a majority investment from Vista Equity Partners. Vista, a leading global investment firm focusing on enterprise software, data and technology-based enterprises, will help drive further innovation at TripleLift and accelerate global growth.
“We have become a leader in the ad technology space and we are excited about our next chapter,” said Eric Berry , co-founder and CEO of TripleLift. “When looking for an investment partner, we prioritize a deep understanding of ad technology and our willingness to leverage our high growth portfolio of innovative products. Vista is that partner.”
Founded in 2012, TripleLift powers the next generation of programmatic advertising by inventing new ad formats and creating two-way marketplaces that provide monetization to publishers around the world. The company rose to prominence as a leader in native programmatic advertising, expanded its offerings to the display and video segment, and is now marketing innovative products on connected television . TripleLift works with more than 80% of the 100 comScore publishers, 100% of the top 20 Demand Platforms (DSP), and 100% of the top AdAge advertisers. Last year, TripleLift handled more than $ 40 billion in ad transactions across desktop, mobile and connected television.
“TripleLift is a state-of-the-art advertising technology company that has successfully identified and developed multiple new markets since its inception,” said Michael Fosnaugh , Vista Flagship Fund Co- Chairman and Senior Chief Executive Officer. “In each case, they have created unique value for an entire ecosystem of companies that includes brands, publishers and partners, and we are excited to work with Eric and the team to further expand their business.”
“Vista is pleased to form this alliance with TripleLift and we have tremendous room for growth,” said Rod Aliabadi, CEO of Vista Equity Partners. “We look forward to continuing our market leadership in programming, further catalyzing our connected television opportunity and leveraging our expansion into priority international markets in Europe and Asia .”
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The closing of the transaction is expected in the second quarter of 2021. Eric Berry will remain in his role as CEO and will remain a member of the board of directors. True Ventures and Edison Partners, two initial investors in TripleLift, will continue to invest in the company.
Centerview Partners LLC is serving as exclusive financial advisor to TripleLift, and Goodwin Procter LLP, and Reitler Kailas and Rosenblatt LLC are serving as legal counsel. JP Morgan is serving as financial advisor to Vista, and Kirkland & Ellis LLP is serving as legal advisor.
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