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Digital advertising firm Outbrain is set to proceed with its $1 billion acquisition of video ad platform Teads from European telecom giant Altice, after receiving clearance from the United Kingdom’s Competition and Markets Authority (CMA).

Regulatory Green Light After Months of Review

The CMA announced its decision Thursday, nearly three months after launching an inquiry into the deal to assess its potential impact on competition. While the full decision has yet to be published, the agency’s approval means no regulatory roadblocks stand in the way of the transaction.

Deal Structure and Strategic Vision

Outbrain first revealed its Teads acquisition plan in August, agreeing to pay:

• $725 million upfront
• $25 million in a later installment
• $105 million in convertible preferred equity
• 35 million shares of Outbrain’s common stock

The company stated that merging Outbrain’s AI-driven technology with Teads’ video and branding services would create a “comprehensive full-funnel solution” for advertisers, enhancing the consumer journey from brand awareness to conversion.

Outbrain’s Second Attempt at Expansion

This acquisition marks a major win for Outbrain, which previously attempted a merger with rival Taboola in 2020. That deal was ultimately abandoned after the CMA raised competition concerns, making this approval a significant milestone in Outbrain’s growth strategy.