Integral Ad Science (IAS), a leading global media measurement and optimization platform, has announced its acquisition by Novacap for $1.9 billion in an all-cash transaction. This represents a premium of approximately 22% to IAS’s closing share price on September 23, 2025.
Under the terms of the agreement, Novacap will acquire all of the outstanding shares of IAS for $10.30 per share in cash. The transaction, which has been unanimously approved by the IAS board of directors, is expected to close before the end of 2025, subject to customary closing conditions, including receipt of required regulatory approvals.
Following the close of the transaction, IAS will become a privately held company and IAS common stock will no longer be listed on any public market. However, the company will continue to operate under the IAS name and brand.
In terms of financial advisors, Jefferies LLC is serving as the exclusive financial advisor to IAS, with Kirkland & Ellis LLP as the legal advisor. Evercore is serving as the financial advisor to Novacap, and Willkie Farr & Gallagher LLP is serving as the legal advisor.
IAS's CEO, Lisa Utzschneider, expressed excitement about the acquisition, stating that as a private company with the support of Novacap, they will have access to new resources to achieve their strategic goals and further build upon the differentiated value they bring their customers.
The transaction will see current shareholder Vista concluding its investment upon close. This acquisition is expected to foster the future growth of IAS's leading global media measurement and optimization platform as it continues investing in AI-first technology.
Today the company's shares have moved 20.39% to a price of $10.185. For more information, read the company's full 8-K submission here.
