€285 million deal adds ‘critical component’ to cable group’s global advertising strategy.

Altice on Tuesday struck a €285 million deal to acquire Teads, the company that invented those annoying video ads that appear in the middle of an article you’re trying to read.

Teads claims an audience of 1.2 billion unique visitors, including 720 million via mobile. It has relationships with 94 of the world’s top 100 advertisers, and with more than 500 premium publishers and 8,000 specialist publishers.

Teads grew its full-year 2016 revenue by 44% to an estimated €187.7 million.

Altice said the deal forms another critical component of its global advertising strategy.

"Teads, a powerful business in itself, with major presence in [the] Altice footprint notably in the U.S. and France, will enable us to offer a truly unique value proposition to brands and agencies on the one hand, and the media industry, programmers and distributors on the other," said Altice CEO Michel Combes.

"It is that value proposition – data-driven, measurable and multiscreen – which will enable us to significantly grow our advertising business," he said.

The deal values Teads at €285 million. Altice will pay 75% of the purchase price when the transaction closes. The remaining 25% is subject to Teads’ 2017 revenue performance and will become payable in 2018.

Teads’ senior management, including executive chairman Pierre Chappaz and CEO Bertrand Quesada, will continue to lead the business. Chappaz will join Altice’s management board, and will become responsible for all of the group’s advertising activities.

"As part of Altice, we will be able to offer even more tailored, data-driven solutions and take our value proposition from the digital world to a multiscreen platform, which includes TV, digital, mobile and tablets," said Chappaz. "It is this differentiated offering which will allow Altice and Teads to uniquely prosper in the global advertising market."