(Reuters) -Private equity firm Novacap will acquire Integral Ad Science in a deal that values the digital ad verification firm at around $1.9 billion, sending the target’s shares up about 20% in premarket trading.
Under the deal announced on Wednesday, Novacap will acquire all of IAS’ outstanding shares for $10.30 apiece in cash, representing a premium of around 22% to the stock’s last closing.
The deal is the latest in a string of private equity buyouts of software and technology companies as they bet on the rise of artificial intelligence to be a strong driver of growth.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar)
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