Adobe (ADBE) Acquires TubeMogul (TUBE) Sending Shares Soaring
Author By Sophia VidaPosted on TubeMogul shares climbed higher on Thursday after Adobe announced that they would be acquiring the company. Shares soared over 80%.
Adobe released a statement saying that the company has entered into a definitive agreement to acquire the ad-tech company for approximately $540 million net of debt and cash.
Brad Rencher, Adobe’s executive vice president and general manager, digital marketing in a press release stated, “With the acquisition of TubeMogul, Adobe will give customers a ‘one-stop shop’ for video advertising, providing even more strategic value for our Adobe Marketing Cloud customers.”
Disclaimer: We have no position in Adobe Systems Incorporated (NASDAQ: ADBE) nor TubeMogul Inc. (NASDAQ: TUBE) and have not been compensated for this article.
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