Outbrain’s Acquisition of Teads

On February 3, 2025, Outbrain Inc., a technology platform, announced the closing of its acquisition of Teads, a global omnichannel platform, from Altice. The two companies will merge their offerings to create an omnichannel outcomes platform for the open internet, and will operate under the name Teads. The transaction value is approximately USD 900 million, comprised of USD 625 million in cash and 43.75 million Outbrain shares.

Lenz & Staehelin advised Outbrain on the Swiss legal aspects of this transaction and its financing, with Cravath, Swaine & Moore LLP being lead counsel. The Lenz & Staehelin team included Shelby R. du Pasquier, Isy Isaac Sakkal and François Meier.