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Ad-tech company Viant completed a company buyout earlier this week that the co-founders say allows them to “take back control” from Meredith Corporation.
Viant, a leading advertising technology company, announced it has completed a company buyout and that the Viant co-founders, Tim and Chris Vanderhook, are taking back control of the ad tech company from Meredith Corporation.
Meredith Corp. has sold the 60% stake it owns in ad tech company Viant to its co-founders.
Ad tech company Viant’s co-founders,Tim and Chris Vanderhook, announced they have bought back the 60 percent stake of the company from Meredith Corp for an undisclosed fee. The company will therefore return to the market as independent.
Ad tech firm Viant has acquired itself from Meredith. Viant’s founder brothers, Tim and Chris Vanderhook, already held on to 40 per cent of the company and have now picked up the remaining 60 per cent from the media giant.
Viant co-founders Tim and Chris Vanderhook said Monday they’ve bought back the 60% stake they sold to Time Inc. in 2016, before Time Inc. itself was acquired by Meredith. They declined to reveal the deal price, though the Vanderhooks sold Viant in 2016 for a reported $87 million.
Viant has acquired itself from media publishing powerhouse Meredith, the companies said Monday. Brothers Chris and Tim Vanderhook, who started Viant 20 years ago, owned a 40 percent stake; Meredith sold the pair the remaining 60 percent.