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Why Taboola.com Was Up 13% on Friday

TheMotleyFool

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Digital advertising services provider Taboola.com (NASDAQ: TBLA) was a big hit with investors on Friday. The stock was rocketing 13% higher in midafternoon trading, on the back of a juicy acquisition announced that morning.

Taboola said it has signed a definitive agreement to acquire Connexity, a company that it says is one of the top independent e-commerce media platforms on the scene. The seller is private equity firm Symphony Technology Group, and the price is roughly $800 million, inclusive of retention payments.

Image source: Getty Images.

Source Fool.com

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