After the bell Thursday, DV reported Q2 revenue of $193.8 mln, missing analysts' estimate of $202.2 mln, per LSEG, and said it is withdrawing all previously issued financial outlook and guidance due to the pending acquisition.
Nielsen, which was taken private in 2022 for $16 bln by Elliott Management and Brookfield Asset Management, will finance the acquisition with cash and debt financing provided by Barclays, BofA and Citi.
Digital media analytics firm DoubleVerify DV.N shares soar 13.3% to $13.27, an 11-month high, after Nielsen Holdings agreed to buy the company for around $2.15 bln.
DV stock is on course for its steepest one-day percentage advance since Nov. 10, 2022.
Under deal terms announced late Thursday, DV shareholders are to receive $13.60 per share in cash, which represents about a 16% premium to their last close.
The transaction has been unanimously approved by the boards of both companies. It is expected to close by the end of 2026, subject to approval by DV shareholders, receipt of required regulatory approvals, and other conditions.
Providence Equity Partners, which owns approximately 11.8% of DV, has agreed to vote in favor of the transaction, per the statement.
DV, which went public in its 2021 IPO at $27 per share, had a market value of about $1.8 bln through Thursday.
