2023-05-24 16:40:34 ET
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Cloud-based advertising platform Kubient ( NASDAQ: KBNT ) said Wednesday that it will merge with digital marketing firm Adomni.
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The financial details of the transaction were not disclosed.
- "Kubient will acquire 100% of the outstanding equity interests in Adomni by means of a reverse triangular merger of a wholly-owned subsidiary of Kubient with and into Adomni," the companies said in a statement.
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Adomni will survive as a wholly-owned subsidiary of Kubient once the deal closes.
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The deal has been unanimously approved by the boards of directors of each company.
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The deal is expected to close in the second half of 2023.
For further details see:
Kubient and Adomni to merge