Outbrain Completes Acquisition of Teads with Major Financing
Deal News | Feb 12, 2025 | Ropes & Gray
Ropes & Gray advised Goldman Sachs, Jefferies, and Mizuho on the financing components for Outbrain's acquisition of Teads. The complex financing structure consisted of a $625 million bridge facility, a $100 million revolving credit facility, and the issuance of $637.5 million in senior secured notes. The acquisition was finalized on February 3, 2025, with both companies now operating under the Teads brand, aiming to bolster advertising across premium media with significant global partnerships. The legal team from Ropes & Gray included finance and legal specialists across U.S. and English law to ensure comprehensive compliance and execution of the financing agreements.
Sectors
- Financial Services
- Digital Advertising
- Legal Services
Geography
- United States – Outbrain is based in the U.S., and key financial and legal activities occurred in this geography.
- Global – The companies involved operate globally, with a network of publishers and advertisers worldwide, and the financing entities are multinational.
Industry
- Financial Services – Relevant due to the involvement of major financial institutions and the complex financing structure employed for the acquisition.
- Digital Advertising – The article revolves around Outbrain and Teads, prominent players in the digital advertising sector known for expansive platform partnerships.
- Legal Services – Ropes & Gray's role in providing legal advisory services for the financing indicates this sector's involvement.
Financials
- $625 million – Initial funding via a financed bridge facility.
- $100 million – Revolving credit facility established as part of the financing structure.
- $637.5 million – Senior secured notes issued to refinance the bridge facility.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Outbrain Inc. | Acquirer | Company | A leading digital advertising service provider that acquired Teads. |
| Teads | Target | Company | A digital advertisement firm acquired by Outbrain. |
| Goldman Sachs | Finance Provider | Company | Provided financial services for the acquisition process. |
| Jefferies | Finance Provider | Company | Worked alongside Goldman Sachs for acquisition financing. |
| Mizuho | Finance Provider | Company | Contributed to the financial structuring of the acquisition. |
| Ropes & Gray | Legal Advisor | Company | Provided legal advisory services for the financing of the acquisition. |