Integral Ad Science Holding Corp. (IAS) entered a merger agreement on September 24, 2025, to be acquired by Novacap in an all-cash deal valued at $1.9 billion.
Novacap will acquire all of the outstanding shares of Integral Ad Science for $10.3 per share in cash, representing a premium of 21.75% from the stock’s last close.
Integral Ad Science is a global digital advertising verification and measurement company that helps advertisers, publishers, and platforms ensure ads are viewable, fraud-free, brand-safe, and optimized across devices and channels.
Novacap is a private equity firm with over $10 billion in assets under management, partnering with entrepreneurs and management teams to grow middle-market companies across technology, digital infrastructure, industries, and financial services.
As part of the transaction, current shareholder Vista Equity Partners will exit its investment upon closing.
The deal is expected to close before the end of 2025.
After the deal closes, Integral Ad Science will continue to use its name and brand.
Jefferies served as financial advisor and Kirkland & Ellis as legal counsel to Integral Ad Science. At the same time, Evercore provided financial advice, and Willkie Farr & Gallagher served as legal counsel to Novacap.
Novacap is acquiring Integral Ad Science at 2.91 times the sales.
For a more detailed insight into this merger and acquisition transaction, please refer to the Deal Metrics page:
Deal Metrics for the acquisition of Integral Ad Science Holding Corp. (IAS) by Novacap
The Deal Metrics page for each merger or acquisition includes:
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Editor’s Note: Baranjot Kaur contributed to this article