Innovid hits about two-year high on $500 mln acquisition by Mediaocean

Innovid

21/11/2024 18:44

** Shares of online advertising technology company Innovid
Corp  CTV.N  up 86.4% at $3.02, their highest since Dec. 1, 2022
    ** Mediaocean, a New York-based advertising company,
acquires Innovid for $3.15 per share, with enterprise value of
about $500 mln
    ** Innovid to merge with Flashtalking, a subsidiary of
Mediaocean to create an independent, omnichannel ad tech
platform
    ** Co's CEO Zvika Netter to lead the combined ad tech
organization as CEO
    ** Including session's gains, stock has risen 100.7% YTD




 (Reporting by Nithyashree R B)
 ((NithyashreeRB@thomsonreuters.com))