Last year, our Redalpine Capital I portfolio company Teads, the No. 1 video advertising marketplace worldwide, was acquired by Altice, a multinational telecom and media company. At that time, the valuation was set at USD 308m, based on certain revenue targets post acquisition. Now the transaction has been finalized, with all revenue targets being fully met.
This follows on the back of a record breaking 2016, where Teads achieved a 40% YoY revenue growth to USD 200m. The entire remainder of the exit proceeds are now being distributed to the shareholders, closing off the exciting Teads chapter for Redalpine.
We are delighted that the acquisition has proven successful for Altice and congratulate the team on the continuation of their success story!
For more information on Teads, please visit www.teads.tv
For more information on Altice, please visit www.altice.net