Vista Equity, Quinti Capital offer to buy Criteo at over 50% premium

Vista Equity Partners and investment firm Quinti Capital have submitted a takeover offer for French advertising-technology company Criteo SA that values the company at more than a 50% premium to its recent share price, two sources familiar with the matter said Monday.

"The bid reflects Vista's conviction in commerce media as a structural growth segment within digital advertising," a person familiar with the firms' thinking said, asking not to be identified discussing private deliberations.

Criteo's Nasdaq-listed shares surged 21% on Monday, their biggest single-day gain since November 2021, following the Bloomberg News report. The stock's rally pushed its market capitalization above $2.5 billion. Trade Desk Inc., a rival in the adtech space, edged up 1% in sympathy trading. Details of the offer — including the exact price, deal structure, financing arrangements and conditions — have not been disclosed. Criteo's board is expected to review the proposal in the coming days or weeks, the sources said, with no formal response or exclusivity period announced.

The bid marks the latest attempt to take Criteo private after years of strategic review processes that failed to reach a completed transaction. During former Chief Executive Officer Megan Clarken's tenure, the company hired Evercore to explore exit options. In late 2024, Criteo held discussions with retail media firm Skai that later stalled, and as recently as December 2025 it relaunched a formal sale process, Reuters reported. Criteo specializes in performance marketing and commerce media solutions, helping brands and retailers target consumers across digital channels. A successful deal would add to Vista's portfolio of software and technology investments and give Quinti Capital a foothold in the adtech sector, where consolidation has accelerated as retailers build out their own media networks.

This article is for informational purposes only and does not constitute investment advice.