Online video ad marketplace Teads has been acquired by the Netherlands-based telco Altice in a deal thought to be worth in excess of $300m (£240m).

Founded in 2011, Teads is a pioneer in outstream video advertising, with a global audience of over 1.2bn unique visitors, incuding over 720m on mobile. The firm saw revenues grow by 44 per cent over the course of 2016, up to an estimated €187.7m (£162.8m), and was rumoured to be exploring the possibility of an IPO at one point.

“We are excited to start this new phase of Teads and become part of the internationally renowned Altice team,” said Pierre Chappaz, founder and executive chairman of Teads. “Since our inception we have strived to offer our clients with superior advertising solutions based on measurable performance and technological innovation.

“As part of Altice, we will be able to offer even more tailored, data-driven solutions and take our value proposition from the digital world to a multiscreen platform, which includes TV, digital, mobile and tablets. It is this differentiated offering which will allow Altice and Teads to uniquely prosper in the global advertising market.”

How Teads will operate within Altice has not yet been announced, although Chappaz and other senior management figures will continue to lead the business going forward. It’s like Teads will become a unit within Altice, which also recently acquired CableVision and buy-side ad tech firm Audience Partners.

The deal is the latest in a string of ad tech acquisitions by telecoms firms, which has also seen Telefonica-owned Axonix purchase Statiq, Amobee pick up Turn and, of course, Verizon acquire the beleaguered Yahoo in a deal that is set to close later this year.

“Convergence of telecoms, content, and advertising is at the core of our business,” said Michel Combes, CEO of Altice. “There is significant incremental value to be generated from our assets. Teads, a powerful business in itself, with major presence in Altice footprint notably in the US and France, will enable us to offer a truly unique value proposition to brands and agencies on the one hand, and the media industry, programmers and distributors on the other.

“It is that value proposition – data-driven, measurable and multi-screen, which will enable us to significantly grow our advertising business. We are very excited to partner with Pierre, Bertrand [Quesada, CEO of Teads] and their talented team.”