M&A · Tech · Services-Prepackaged Software
Mediaocean LLC to acquire Innovid Corp.
Announced Nov 21, 2024 · Closed Feb 13, 2025
Deal value$500MEV $500M
Premium94.0%To unaffected price
EV / Adj. EBITDA—3.3x EV / Revenue
ConsiderationAll cash$3.15 per share
Transaction
- Acquirer
- Mediaocean LLC
- Target
- Innovid Corp. (CTV)
- Buyer type
- Strategic
- Offer price per share
- $3.15
- Enterprise value
- $500M
- Status
- Closed Feb 13, 2025
Deal protections
- Break fee (target pays)
- $17.0M · 3.4%
- Reverse fee (buyer pays)
- $42.0M · 8.4%
- Go-shop
- No-shop
- Financing
- Committed · Deutsche Bank, Macquarie, Nomura
Advisors
- To the acquirer
- Not disclosed
- To the target
- Evercore
Sector context · Tech
- Comparable deals
- 59 in the prior 24 months
- Premium
- 94.0% vs. 39.3% sector median
- EV / Adj. EBITDA
- Sector median 15.5x
- Break fee
- 3.4% vs. 3.0% sector median
Timeline
- AnnouncedNov 21, 2024
- Proxy filedDec 23, 2024
- Definitive proxyJan 10, 2025
- Shareholder voteFeb 11, 2025
- ClosedFeb 13, 2025