Taboola Surges 60% After Yahoo Enters Commercial Pact, Takes Stake

Tiger Newspress2022-11-28

Taboola surged nearly 60% in morning trading after the Internet advertising firm entered into 30-year exclusive agreement with Yahoo.

Under the partnership, which is expected to generate $1 billion in annual revenue, Taboola (TBLA) will power native advertising exclusively across Yahoo's digital properties, according to a statement. Yahoo will take a 25% stake in Taboola and will add one representative on the company's board.

The agreement is expected to close in the Q1 of next year. Taboola (TBLA) will hold a special meeting of shareholders on Dec. 30 to seek holder approval for the deal.

The agreement is expected to be "highly" accretive to Taboola (TBLA) revenue, adj. EBITDA and free cash flow.

LionTree, which is a co-investor in Yahoo, served as financial advisor to the transaction. Evercore served as advisor to Yahoo. LUMA Partners also served as an advisor.

Earlier this month Taboola (TBLA) announced a new partnership with BuzzFeed to provide ads and content recommendations on BuzzFeed's premium websites.

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Seah CL
2022-11-29
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2022-11-29
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2022-11-28
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2022-11-28
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