Integral Ad Science, a global platform specializing in media measurement and optimization, recently announced a significant development. The company has entered into a definitive agreement to be acquired by Novacap, a leading North American private equity firm, through an all-cash transaction. This deal values Integral Ad Science at approximately $1.9 billion. The acquisition is expected to pave the way for further growth at Integral Ad Science as it continues to invest in AI-first technology.
Under the terms of this agreement, Novacap will purchase all of the outstanding shares of Integral Ad Science for a cash price of $10.30 per share. This specific price represents a premium of approximately 22% compared to Integral Ad Science’s closing share price on September 23, 2025. That date was the last full trading day before the announcement of this important transaction. As a direct consequence of this transaction, current shareholder Vista will conclude its investment in Integral Ad Science upon the closing of the deal.
Integral Ad Science Board of Directors has unanimously approved the transaction. The deal is expected to be finalized before the close of 2025, pending the satisfaction of customary closing conditions. These conditions include obtaining all necessary regulatory approvals.
Shareholders of Integral Ad Science who collectively hold a majority of the outstanding shares of common stock have already approved the transaction through written consent. This means that no additional shareholder approval is required to proceed with the acquisition.
After the transaction is complete, Integral Ad Science will transition into a privately held company. Consequently, its common stock will no longer be listed on any public market.
Following the completion of the acquisition, Integral Ad Science will maintain its current name and brand. This deal is not contingent on any specific financing conditions.
Advisors: Jefferies is serving as the exclusive financial advisor to IAS, and Kirkland & Ellis is serving as legal advisor. Evercore is serving as financial advisor to Novacap, and Willkie Farr & Gallagher is serving as legal advisor.
KEY QUOTES:
“Today’s announcement is an exciting milestone for IAS. As a private company with the support of Novacap, we will have access to new resources to achieve our strategic goals and further build upon the differentiated value we bring our customers as we advance our mission to be the global benchmark for trust and transparency in digital media quality. I’m proud of the strong momentum we’ve built for our company, the strength of our AI-powered measurement and optimization platform, and the outstanding work of our employees.”
Lisa Utzschneider, CEO of IAS
“We have long admired IAS as an innovator and leader in its industry, with a stellar leadership team, and robust AI-first platform for Fortune 500 brands and publishers. We look forward to partnering closely with IAS to accelerate its pace of innovation to deliver even more powerful advertising solutions for customers around the world.”
Samuel Nasso, Partner at Novacap
“IAS has established itself as the global benchmark for trust and transparency in digital media quality. Through our partnership, IAS expanded its AI-powered platform, deepened customer relationships and scaled into a true category leader. We’re excited for Lisa and her team as they continue that journey with Novacap.”
Michael Fosnaugh, Senior Managing Director and Co-Head of Vista Equity Partners’ Flagship Fund, and Chairman of IAS’ Board of Directors
