TBLA - Taboola buys e-Commerce media platform Connexity for $800 million

Zhanna Hapanovich/iStock via Getty Images Taboola (TBLA) agrees to acquire Connexity from Symphony Technology Group for ~$800 million in cash and stock deal. Connexity is an independent e-Commerce media platform in the open web, serving over 1,600 direct merchants and 6,000 publishers. Connexity reaches over 100 million unique shoppers per month via relationships with premium publishers, including Condé Nast, DotDash, Hearst, Vox Media, Meredith, and News Corp Australia. The Company's clients include Walmart, Wayfair, Skechers, Macy’s, eBay and Otto. The acquisition creates a Company with ex-TAC Gross profit of over $500 million and ~$185 million of adjusted EBITDA over the twelve months ended March 31, 2021, the largest e-Commerce media platform on the open web. Taboola expects to grow its stand-alone ex-TAC Gross profit in 2021 bt more than 20% Y/Y. When including Connexity, the pro forma growth of ex-TAC in 2021 vs. 2020 is also expected to exceed 20%.

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Taboola buys e-Commerce media platform Connexity for $800 million