Viant Technology NASDAQ: DSP executives outlined plans to acquire television measurement provider TVision, positioning the deal as a way to move advertiser decision-making beyond traditional impression-based buying and toward “attention-based” optimization across linear TV and connected TV (CTV).
During a conference call, Viant Co-founder and CEO Tim Vanderhook said TVision’s measurement approach is designed to quantify “the true value of linear TV and connected TV ad inventory” using viewer attention signals from a “demographically balanced, nationally representative panel of U.S. households.” Viant said the acquisition will allow it to embed these signals into its buying platform and create a new valuation metric, which Vanderhook called an “attention-adjusted CPM.”
How Viant describes the shift from impressions to attention
Vanderhook criticized CPM-driven budgeting frameworks as an incomplete proxy for performance because they reflect ad delivery rather than whether viewers were present or engaged. He said TVision measures attention using three signals: in-room presence, co-viewership, and “eyes-on-screen” attention. “When nobody is in the room, an ad delivers no value,” Vanderhook said.
As an example, Vanderhook compared app-level data between YouTube and HBO Max, arguing that a lower CPM does not necessarily equate to better value once attention is accounted for. He said TVision’s multipliers—based on the three attention signals—could invert apparent value, claiming that in the cited dataset advertisers were “spending 21% less per attentive view on HBO Max versus YouTube.”
Technology integration and the role of IRIS_ID
Viant said TVision’s data is expected to be integrated into its AI-powered buying platform to enable real-time planning, bidding, and optimization based on attention. Vanderhook described TVision’s panel as combining automatic content recognition (ACR)—to determine what is playing on the screen—with computer vision technology via cameras mounted on household TVs to measure in-room presence, co-viewership, and whether viewers’ eyes are directed at the screen.
Vanderhook said Viant is uniquely positioned to apply those signals broadly because it can link TVision’s insights to its proprietary content identifier, IRIS_ID, and “inject TVision’s high-fidelity viewer engagement signals directly into the programmatic bid stream.” He said the combination would allow attention values to be applied with “surgical granularity,” down to individual shows, ad breaks, ad pods, and even individual ad slots, while also accounting for demographic factors such as age, gender, income, and location.
Co-founder and COO Chris Vanderhook framed TVision as a new pillar within Viant’s “intelligence layer,” alongside Household ID and IRIS_ID. He said those signals, combined with Viant’s identity graph, supply scoring models, and historical campaign performance data, are intended to support Viant’s autonomous buying product, Outcome, which is built on its “AI Lattice Brain decisioning architecture.”
Customer base, demand signals, and go-to-market plans
Chris Vanderhook said TVision is used by major advertisers and content owners today. On the advertiser side, he cited Procter & Gamble, AT&T, American Express, and TikTok as examples of companies leveraging TVision insights for broad budget allocation and creative assessment. On the content owner side, he cited Netflix, Disney, Amazon, NBCU, Paramount, and Fox as users of TVision data to inform audience engagement and content strategy.
Asked about customer overlap, Chris Vanderhook said there is “hardly any customer overlap whatsoever,” describing TVision’s panel business as “very unique.” He added that Viant is “really excited” to bring intelligence that is “typically outside of a platform” directly into the buying workflow.
On advertiser demand, Tim Vanderhook said interest in attention measurement is high, calling it “off the charts,” and argued that while attention has been widely discussed, the market has lacked a way to operationalize it in buying systems. He said advertisers are looking for “unified measurement” across linear TV, the open web, and walled gardens.
Exclusivity and integration timing
In response to a question from Canaccord Genuity’s Maria Ripps about whether TVision data would remain available to other measurement providers, Tim Vanderhook said Viant plans to make the TVision data exclusive to Viant over time. He noted there are existing contractual obligations that must be honored in the near term, but said that as those contracts expire, the data will be folded back into Viant.
On integration timing, Tim Vanderhook said Viant has already integrated TVision data as “pre-bid segments” in the DSP “starting today.” He added that Viant expects to complete a tighter integration that feeds “second-by-second measurement” back into the DSP “in the next four months to six months,” which he said is intended to create a real-time feedback loop.
Transaction terms and financial considerations
Chief Financial Officer Larry Madden said TVision generated approximately $10 million in annual revenue in 2025 on a preliminary, unaudited standalone basis, emphasizing that the figures are subject to customary post-closing verification. Madden said Viant expects a “modest negative impact” to consolidated adjusted EBITDA in 2026 as the company invests to scale and integrate TVision, but expects the deal to strengthen targeting and measurement, drive increased ad spend, improve take rates, and support adjusted EBITDA margin expansion over time.
Madden said the purchase consideration is $40 million, subject to customary adjustments and holdbacks, consisting of $22.5 million in cash and $17.5 million in Class A common stock. Viant expects the transaction to close in calendar second quarter 2026.
Viant also reaffirmed its first-quarter 2026 guidance, calling for:
- Revenue growth of 20% at the midpoint
- Contribution ex-TAC growth of 17% at the midpoint
- Adjusted EBITDA growth of 67% at the midpoint
Looking further out, Madden said Viant continues to target “consistent 20% or more annual top-line growth” and adjusted EBITDA margin expansion, with an opportunity to reach adjusted EBITDA margins of “40% or higher over time.”
About Viant Technology NASDAQ: DSP
Viant Technology Inc Nasdaq: DSP is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.
Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.
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