10:27 AM EST, 02/03/2025 (MT Newswires) -- Outbrain ( OB ) said Monday it closed its acquisition of Teads, a digital advertising company, for about $900 million after getting all the regulatory approvals.

In a previously announced revised agreement, the transaction value comprised $625 million upfront cash, as well as 43.75 million Outbrain ( OB ) shares to be issued to Tead's selling shareholder Altice, or about $263 million based on the stock's closing price as of Friday, the company said.

There's also no deferred cash payment or convertible preferred equity component, Outbrain ( OB ) said, adding the revised terms have "meaningfully reduced the level of required debt financing."

Outbrain ( OB ) and Teads will merge their branding and performance offerings to create an omnichannel platform and will operate under the name Teads.

Outbrain ( OB ) said it now expects to realize annual synergies of about $65 million to $75 million in fiscal year 2026, with additional synergies in the following years.

Outbrain ( OB ) shares were falling 4.8% in recent trading.

Price: 5.72, Change: -0.29, Percent Change: -4.83