Taboola and Outbrain, two New York City based digital advertising platforms, are to merge, in an $850m.
Under the terms of the agreement, subject to customary closing conditions, Outbrain shareholders will receive shares representing 30% of the combined company plus $250m of cash.
The combined company will provide enhanced advertising efficacy and reach to marketers worldwide, while helping news organizations and other digital properties find growth in the next years.
Upon closing, Adam Singolda, the Founder and current CEO of Taboola, will assume the CEO position of the combined company, which will operate under the Taboola brand name.
The Board of Directors of the combined company will consist of current Taboola and Outbrain Management and Board members. Eldad Maniv, President & COO of Taboola and David Kostman, co-CEO of Outbrain will work closely together on managing all aspects of the post-merger integration.
Led by Yaron Galai, co-Founder and co-CEO, Yaron Galai will remain committed to the success of the combined company, and actively assist with the transition for the 12 months following the closing.
The combined company will have over 2,000 employees across 23 offices, serving over 20,000 clients in more than 50 countries across the North America, Latin America, Europe, Middle East and Asia-Pacific regions.