Adform, a Nordic adtech company established in 2002, is exploring a potential sale, marking a resurgence in the mergers and acquisitions (M&A) landscape for adtech firms. It has appointed Carnegie, a Swedish investment bank, to oversee this process. This initiative comes as Adform has reported a revenue decline of 3.7% in 2023 amidst economic uncertainties, and although it provides a comprehensive suite of solutions for both advertisers and publishers, it has struggled to compete effectively with larger US companies.
Adform is exploring a sale, signaling a rebound in the adtech M&A market after a period of slow activity.
The Nordic adtech company has hired Carnegie to manage bids from prospective buyers as it seeks potential acquisitions.
Adform, unlike many competitors, serves both advertisers and publishers, offering various platforms for ad management and data organization.
Despite its longevity, Adform has struggled against US rivals, reporting a revenue dip due to economic pressures.
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