Viant Co-Founders Acquire Meredith Corporation's 60% Stake in Company
IRVINE, Calif., November 4, 2019 (Newswire.com) - Viant, a leading advertising technology company, announced today it has completed a company buyout and that the Viant co-founders, Tim and Chris Vanderhook, are taking back control of the ad tech company from Meredith Corporation.
The transaction includes the 60% of Viant that Meredith Corporation acquired via the Time Inc. acquisition in January 2018. In addition, both companies agreed to extend their long-standing commercial data agreement.
"We are pleased to find a great outcome for what is a very strong ad tech business," said Meredith Chief Development Officer John Zieser. "Viant will remain an on-going data partner as we continue to partner on value-creating opportunities."
Meredith acquired the ownership interest in Viant as part of its January 2018 acquisition of Time Inc. Meredith has since sold a number of assets including TIME, FORTUNE and Sports Illustrated brands, in addition to some international holdings.
"We want to thank Meredith for their stewardship and on-going data partnership," said Viant CEO and Co-Founder Tim Vanderhook. "Our new independence will allow us to further expand our identity resolution capabilities by creating additional partnerships similar to what we’ve accomplished with Meredith. Our current momentum speaks volumes for our outstanding team and the incredible opportunity that exists in this industry.”
Financial terms are not being disclosed.
ABOUT VIANT
Viant is a leading advertising technology company enabling ad buyers to plan, create, execute and measure their digital advertising investments through a cloud-based platform. Through its self-service platform, Adelphic, marketers have access to over 12,000 audience attributes from the leading 50 data companies and the ability to purchase advertising across desktop, mobile, CTV, and Digital Out-of-Home devices. Founded in 1999, Viant is a 2018 Inc. Magazine Best Workplaces award winner.
Source: Viant