Vista Equity Partners and Quinti Capital have reportedly submitted an offer to acquire Criteo, the French advertising technology company. According to Reuters, the firms made an offer last week that valued Criteo at more than a 50% premium to its recent share price. The report cited two people familiar with the matter who were not identified because the information is not public.

Criteo had not yet decided how to respond to the takeover approach, according to the report. The company is based in Paris and provides digital advertising and retail media services.

Criteo uses data and artificial intelligence to help brands and retailers target shoppers and drive online sales. The company operates in the broader adtech market, where scale, retail media capabilities, data infrastructure, and AI-driven targeting have become increasingly important.

Following the report, Criteo’s U.S.-listed shares closed 21.4% higher at $23.17 on Monday. That gave the company a market value of about $1.16 billion.

Vista Equity Partners is a major software and technology-focused investment firm. A potential deal for Criteo would align with Vista’s long-running focus on enterprise software, data, and technology-enabled businesses.

The reported approach also comes as advertising technology companies continue navigating shifts in privacy rules, retail media growth, and demand for AI-powered marketing tools. Criteo’s platform sits at the intersection of commerce media, online advertising, and retail data, making it a potentially attractive asset for investors focused on digital infrastructure and marketing technology.

No final decision has been announced, and Reuters reported that Criteo has not yet determined how it will respond to the offer. Financial terms beyond the reported premium were not disclosed.