Ad tech’s maturation has been signaled by the rapid rate of public listings from companies in the space with some of them starting to put the resulting funds to work.
This morning Taboola announced it is acquiring ecommerce outfit Connexity from Symphony Technology Group for $800 million.
The deal represents Taboola’s first acquisition as a publicly-traded entity–the fifth in its history–after it merged with special purchase acquisition company ION Acquisition Corp last month.
Between the lines
Connexity provides ecommerce services to 1,600 retailers and more than 6,000 publishers including Condé Nast, DotDash, Hearst, Meredith and Vox Media with Taboola claiming it will help attract a new profile of advertisers to the Connexity platform.