Inuvo Inc: More than doubles as ConversionPoint to buy co

Inuvo

05/11/2018 14:24

** Shares of Inuvo  INUV.A  jump 165.83 pct to $1.10, top
pct gainer across U.S. exchanges in trading before the bell
    ** Artificial intelligence technology provider says it
agreed to be acquired by ConversionPoint Technologies Inc, a
privately held eCommerce tech company  urn:newsml:reuters.com:*:nGNX5cBPLr
    ** ConversionPoint to buy INUV at $2.22/shr in a cash and
stock offering, for a total value of ~$75.5 mln
    ** Deal to allow ConversionPoint to enter the AI-market
    ** INUV shares set to open at almost a year high, if the
gains hold, and to more than erase YTD losses of 48.9 pct

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))