Thursday, August 4, 2016

Sizmek Acquired By Vector Capital In $122M Deal

Austin-based online advertising firm Sizmek said it will be acquired by private equity investor Vector Capital, in a deal worth $122M in cash, or $3.90 per share, the company said on Wednesday. The acquisition will take the company off the public markets, where it currently is trading as SZMK on the NASDAQ. Sizmek said the acquisition will help it become the "leading independent, global ad management platform". Sizmek is led by Neil Nguyen. Sizmek is being advised by J.P. Morgan and Latham & Watkins LLP in the transaction; Vector, which is based in San Francisco, is being advised by Kirkland & Ellis LLP.