ad tech acquisitions

From 2015’s ad tech gold rush to today’s cautious comeback, telcos are once again testing whether they can turn subscriber data into ad dollars – this time with privacy as the selling point.

Viant is on an M&A tear, with two acquisitions – IRIS.TV followed by lockr – in less than six months. Although the rationale behind these deals might be obvious to ad tech insiders, Wall Street investors speak a different language, one that Viant CEO Tim Vanderhook has become fluent in as the leader of a publicly traded company.

Programmatic algorithms optimize for performance, which can leave digital media companies floundering. Inside programmatic’s pursuit of “premium.” Plus: an ad tech acquisition forged on matchmaking buy-side and sell-side IDs.

M&A started off with a bang in 2025. T-Mobile bought Vistar Media, and The Trade Desk bought Sincera. With a special guest from LUMA Partners, Conor McKenna, we explore the rationale for these ad tech acquisitions.

Read on for an inexhaustive list of the most notable ad tech, agency and digital content deals of 2024, with a few fun wild cards tossed in. (Looking at you, “Hot Ones.”)

Cookie deprecation and the reduced availability of mobile ad IDs is rocking the ad tech ecosystem. But signal loss is also an opportunity for a younger company to build new privacy-preserving targeting technology and grab market share, according to Remco Westermann MGI CEO.

Advanced TV advertising company Cadent announced plans to drop $324 million to acquire the performance marketing company AdTheorent.

Who got bought in 2023, and who did the buying? Here’s a non-exhaustive list of some of the most notable ad tech M&A activity from this past year (with a few media and agency deals tossed in for good measure).

Digital media and marketing M&A is suffering from a prolonged case of anemia. The cause? Uncertainty in the market, according to LUMA Partners.

Ad tech M&A has had a case of the Mondays since … late 2021. After the blistering pace of M&A during the height of the pandemic, deal activity in the ad tech sector slowed to a trickle in 2022 and has remained sluggish this year.