Novacap to acquire Integral Ad Science in $1.9 billion deal

New Delhi: Integral Ad Science (IAS), a media measurement and optimisation company, has entered into a definitive agreement to be acquired by Canadian private equity firm Novacap in an all-cash transaction valuing IAS at approximately $1.9 billion.

Under the terms of the agreement, IAS shareholders will receive $10.30 per share in cash, representing a premium of approximately 22% over IAS’s closing share price on September 23, 2025. 

The deal has been unanimously approved by the IAS Board and is expected to close by the end of 2025, subject to regulatory clearances and customary closing conditions. 

Upon completion, IAS will become a private company and its common stock will no longer be traded publicly. 

Lisa Utzschneider, CEO of IAS, called the acquisition “a milestone,” saying that as a private company backed by Novacap, IAS will gain access to fresh resources to further its mission of setting the benchmark for trust and transparency in digital media quality. 

From Novacap’s side, Samuel Nasso, Partner, said the firm has long admired IAS’s AI-powered platform and leadership in media measurement and looks forward to accelerating innovation and delivering better advertising solutions.

Vista Equity Partners, which currently holds a major stake in IAS, will exit its investment at closing. 

Post-deal, IAS will retain its name and brand identity. The backing of Novacap could allow for larger investments in AI, product development, and expansion into complementary markets.