Megan Clarken, one of ad tech’s most celebrated CEOs, is planning her exit from Criteo within the next 12 months. The rumor that has caught fire is that Clarken is stepping aside to clear the way for a big, game-changing acquisition. Criteo has been in talks with potential buyers multiple times and even put itself on the market as recently as last year.

Several companies are rumored to be potential contenders for acquiring Criteo:

1. The Trade Desk: Known for its CTV banner, The Trade Desk might see Criteo's strong foothold in retail media as a strategic boost.
2. Microsoft: With a history of acquisitions like Xandr and PromoteIQ, Microsoft could deepen its advertising footprint by acquiring Criteo.
3. Walmart: Walmart could integrate Criteo to enhance its e-commerce platform, Vizio’s CTV capabilities, and in-store data for more impactful advertising.
4. Publicis Groupe: Having almost acquired Criteo a decade ago, Publicis might see it as a prime opportunity to boost its revenues in retail media.
5. GroupM: With new leadership under Brian Lesser, GroupM might consider acquiring Criteo to revive its fortunes and strengthen its retail media capabilities.

The Trade Desk could benefit from acquiring Criteo in several ways:

• Retail Media: Criteo’s strong foothold in retail media could provide The Trade Desk with a strategic boost to pivot and seize new growth opportunities.
• Diversification: As the CTV market evolves, acquiring Criteo could help The Trade Desk diversify its offerings and reduce reliance on CTV alone.
• Growth: The acquisition could shift The Trade Desk’s strategy from building its own growth path to buying it, potentially accelerating its market expansion.

Microsoft’s approach to acquisitions has been evolving recently:

• Proprietary Tech: Microsoft has been leaning more toward bolstering its own proprietary tech rather than acquiring third-party ad platforms.
• Strategic Partnerships: Microsoft and Criteo recently launched a strategic partnership, making Criteo Microsoft’s “preferred on-site media partner.”
• Acquisition History: Despite this shift, Microsoft has a history of significant acquisitions, such as Xandr and PromoteIQ, indicating it could still consider acquiring Criteo to expand its ads business.

Publicis Groupe might consider acquiring Criteo now for several reasons:

• Retail Media Expansion: Publicis has been acquiring commerce and retail media firms like CitrusAd and Profitero to create an end-to-end retail media offering. Criteo’s position in retail media could enhance this strategy.
• Revenue Boost: Acquiring Criteo could boost Publicis’s revenues in the retail media space without the hassle of navigating agency budgets.
• Past Interest: Publicis reportedly almost acquired Criteo a decade ago, and the company’s evolution since then might make it an even better fit now.