- Leading advertising technology company Viant announced the co-founders of the company acquired their 60% stake back from Meredith
Leading advertising technology company Viant announced that it completed a company buyout and the co-founders of the company Tim Vanderhook and Chris Vanderhook are taking control of the ad tech company from Meredith Corporation. The terms of the deal were undisclosed.
This transaction includes 60% of Viant that Meredith acquired through its acquisition of Time Inc. in 2018. Plus the companies also agreed to extend their long-standing commercial data agreement.
Viant enables ad buyers to plan, create, execute, and measure their digital advertising investments through a cloud-based platform. Viant’s self-service platform called Adelphic also allows marketers to 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.
“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 has been selling a number of assets over the last year, including the TIME, FORTUNE, and Sports Illustrated brands. And Meredith also sold off some international holdings.
“We want to thank Meredith for their stewardship and on-going data partnership,” added 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.”
