Criteo is holding M&A discussions with Skai to bolster its retail media play
Criteo is in M&A talks with Skai, a company formerly known as Kenshoo, with the negotiations potentially leading to a deal worth hundreds of millions of dollars, according to sources as the France-based outfit looks to position itself as a retail media specialist.
The two companies have been in talks for some weeks, indicating negotiations are in a relatively advanced stage, albeit a combination of the two companies is far from certain, according to multiple Digiday sources.
Skai appointed bankers to solicit offers earlier this year with one source familiar with the developments, who requested anonymity in return for candor, informing Digiday that it has primarily spoken with strategic players. “The EBITDA and growth of Skai is impressive,” noted the source, who later went on to estimate that the Israel-based company would eventually sell for “north of $500 million.”
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Source:: Digiday
