Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Connexity, a portfolio company of Symphony Technology Group (“STG”), has agreed to be acquired by Taboola (NASDAQ: TBLA). The total consideration of the transaction is approximately $800 million, consisting of cash and Taboola shares. The transaction is subject to various regulatory approvals and customary closing conditions.
Connexity is one of the largest independent e-Commerce media platforms in the open web, serving over 1,600 direct merchants and 6,000 publishers. Connexity’s core technology powers customer acquisition for leading merchants including Walmart, Wayfair, Skechers, Macy’s, eBay and Otto. Connexity reaches more than 100 million unique shoppers per month, via relationships with premium publishers including Condé Nast, DotDash, Hearst, Vox Media, Meredith, and News Corp Australia. Connexity also allows publishers to seamlessly integrate more than 750 million product offers on their websites, providing a significant revenue stream. Connexity is headquartered in Santa Monica, California.
Symphony Technology Group was founded in 2002. The private equity firm focuses on partnering with innovative mid-market software, data and analytics companies. STG’s commitment to support each portfolio company’s growth is supported by experienced professionals in carve outs, public to private transactions and private equity investments. STG manages more than $3.3 billion assets under management as of March 2021. STG is headquartered in in Palo Alto, California.
Taboola is a technology company that powers recommendations for the open web, helping people discover things they may like. Taboola’s platform, powered by artificial intelligence, is used by digital properties, including websites, devices and mobile apps, to drive monetization and user engagement. Taboola has long-term partnerships with some of the top digital properties in the world, including CNBC, NBC News, Business Insider, The Independent and El Mundo. More than 13,000 advertisers use Taboola to reach over 500 million daily active users in a brand-safe environment. Taboola has offices in 18 cities worldwide, including New York and Tel Aviv.
For additional information about this transaction, please contact: