Web recommendation platform Outbrain has completed the acquisition of global media platform Teads after receiving all necessary regulatory approvals. The new company will operate under the name Teads.

With the acquisition, the two companies will merge their respective brand and performance offerings to create an omnichannel platform that delivers outcomes from branding to performance across all screens, including CTV, mobile and web. Its combined offering will be enhanced by Outbrain’s proprietary predictive technology and AI optimization.

The companies said that the union creates one of the largest open internet companies, with combined advertising spend of approximately $1.7 billion, reaching 2.2 billion consumers. “The company’s combined data set will power expanded contextual, audience and purchase-based targeting capabilities, connecting CTV experiences to digital moments to drive measurable outcomes,” said Outbrain.

Outbrain CEO, David Kostman, will serve as CEO of the combined company, with Jeremy Arditi and Bertrand Quesada, former Teads CEOs, assuming the roles of co-president, chief business officer of the Americas and international, respectively.

The companies amended the previously announced share purchase agreement. Under the terms of the new deal, Outbrain will pay a total consideration of approximately $900 million, consisting of $625 million in upfront cash and 43.75 million shares of Outbrain common stock.