Adobe (ADBE) Acquires TubeMogul (TUBE) Sending Shares Soaring

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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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