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The identity imperative: Why M&A is defining the future of addressability

Horse-drawn carriage with a large cookie where the horse should be losing to a racecar on a track.

Robyn Phelps and Sarah Kim / Shutterstock / The Current

The ad tech news cycle has been a lot to keep up with lately. There’s been a flurry of interesting M&A activity, an industry-shaking antitrust ruling, one of the OG demand-side platforms (DSPs) exiting the space and oh, yeah, third-party cookies are no longer going away (for as long as Google owns the Chrome browser). Say what you will about the “cookiepocalypse” and the drawn-out Privacy Sandbox rollout, there’s no denying that the threat of signal loss lit a fire under the industry and forced a wave of innovation we might not have seen otherwise.

The urgency may have subsided, but the real transformation hasn’t. Signal loss, privacy regulations and shifting consumer expectations are reshaping how the ecosystem defines addressability. And let’s remember, addressability is critical to how the internet works. The internet has always been funded by advertising. The more relevant the impression to the audience, the more an advertiser is willing to pay for it, the more amazing content publishers can create.

What we’re seeing now is not just survival — it’s strategic reinvention.

It seems clear that the future of identity, relevance and measurement is being built today, and as I think about a common thread across all this industry activity, I believe we are witnessing an addressability arms race quietly playing out in front of us.

Recent acquisitions aren’t just business deals — they’re bets on what addressability needs to look like in a privacy-first world. Increasingly, they’re designed to serve advertisers with more interoperable identity, more scalable data and more transparent supply paths.

Let’s take a closer look.

Strategic signals: M&A built for addressability

  • WPP | InfoSum: WPP acquired data clean room leader InfoSum to power AI-enhanced, privacy-safe collaboration across its GroupM media network — a clear bet on actionable first-party data and compliant identity at scale.
  • Publicis | Lotame scales Epsilon’s graph to a claimed 91% of internet users and adds sell-side curation. It’s a bet that reach and relevance can still go hand –in hand — without third-party cookies.
  • Experian | Audigent brings together identity resolution and real-time activation, giving advertisers more direct control across the supply chain.
  • Viant | IRIS.TV and Lockr: IRIS ID enhances contextual connected TV (CTV) signals, while Lockr embeds a full suite of identity, cloud and collaboration tools for publishers.
  • Zeta | LiveIntent plugs durable identity tools (HERO and Non-ID) into a full-stack platform — built for consent-based targeting at scale.
  • Omnicom | IPG unites Acxiom, Omni and Flywheel. It’s not just about identity — it’s about connecting identity to commerce and measurement across the funnel.
  • The Trade Desk | Sincera uses metadata and telemetry to unlock transparency and trust in the supply chain. Making Sincera free and open to participants in the digital ad industry brings a new level of trust and transparency to the ecosystem, giving buyers confidence they’re spending on quality.

Why it matters

These deals share some common denominators:

  • First-party identity is a strategic asset. With cookies fading, companies are investing heavily in owned identity solutions and first-party data.
  • Privacy-conscious activation is non-negotiable. Acquisitions emphasize clean rooms, emerging IDs as currency and consent management — signaling a pivot toward more compliant personalization.
  • Consolidation is a strategic necessity. Companies are merging to create larger stacks and one-stop shops, indicating point solutions are losing favor with buyers seeking simplicity and scale.

As point solutions fade, full-stack platforms are emerging. And this is just the beginning. More acquisitions will come as companies race to deliver global, omnichannel addressability and compete with walled gardens.

Addressability itself is being redefined. Future strategies will depend on digital signals and identity resolution across every channel — and privacy will be central to how it’s implemented and measured.

What does this mean for marketers?

  • Activate what you own. Identity isn’t dead — it’s shifting. Your first-party data is more pivotal than ever. Use it to drive outcomes, not just impressions.
  • Test with intent. Having fewer partners doesn’t mean less diligence. Understand how your partners’ new capabilities align with your strategy and pressure test them with real campaigns.
  • Think bigger. These mergers aim to deliver global reach and omnichannel precision. Make sure your plans — and your partners — match that ambition.

Addressability isn’t going away. It’s being rebuilt — smarter, safer and more connected to business outcomes. The brands that lean into this moment won’t just survive the post-cookie era — they’ll lead it.

The Current is owned and operated by The Trade Desk Inc.