The Quebec investment firm Novacap acquires a New York company, Cadent, which specializes in advertising convergence technologies between television and digital media.
According to information provided by Novacap, Cadent is “one of the largest independent platforms for unified audience targeting across Connected TV (CTV), traditional TV and digital advertising”.
Cadent has developed a “prestigious customer base” consisting of “international communications and media buying groups” among the largest advertisers and “large publishers and distributors of [media] content globally”.
“As the media landscape becomes increasingly fragmented, Cadent provides innovative technology solutions to advertisers who want to optimize their reach and ability to target specific audiences across a multitude of platforms,” writes Novacap in its acquisition announcement. of Cadent, without however disclosing the financial details.
“We are at the start of a significant shift in TV advertising delivery and through strategic investments and acquisitions, we believe Cadent will continue to grow as a pioneer in the convergent TV market,” says Samuel Nasso, senior vice-president at Novacap and principal responsible for this acquisition of Cadent.
From the perspective of Pascal Tremblay, Managing Partner and CEO, the acquisition of Cadent as a “pioneer in the convergent television advertising space fits exactly the profile of an innovative and growth-oriented company that [Novacap seeks] to support”.
Mr. Tremblay also considers that “[Novacap’s] expertise in value creation within companies specializing in media technologies positions [it] as the ideal partner to accompany Cadent in its growth process”.
From its head office in Longueuil, as well as its offices in Toronto and New York, the investment firm Novacap manages private equity funds for growth companies that include $8 billion in assets under management.