Taboola’s $800 Million Acquisition of Connexity

JPMorgan Chase Bank, N.A. and Credit Suisse AG acted as financial advisors to Taboola. JPMorgan Chase Bank, N.A. and Credit Suisse AG are providing committed debt financing for the transaction. Davis Polk & Wardwell LLP and Meitar Law Offices provided legal counsel to Taboola. Baird and BrightTower acted as financial advisors to Connexity. Paul Hastings LLP provided legal counsel to Connexity.

Taboola (Nasdaq: TBLA), a global leader in powering recommendations for the open web, helping people discover things they may like, announced that it has entered into a definitive purchase agreement to acquire Connexity from Symphony Technology Group for approximately $800 million. Connexity is one of the largest independent e-Commerce media platforms in the open web, serving over 1,600 direct merchants, and 6,000 publishers.

Connexity’s core technology powers customer acquisition for leading merchants including Walmart, Wayfair, Skechers, Macy’s, eBay and Otto. Connexity reaches more than 100 million unique shoppers per month, via relationships with premium publishers including Condé Nast, DotDash, Hearst, Vox Media, Meredith, and News Corp Australia. In addition, Connexity allows publishers to seamlessly integrate more than 750 million product offers on their websites, providing a significant revenue stream.

Taboola powers recommendations for the open web, helping people discover things they may like. The company’s platform, powered by artificial intelligence, is used by digital properties, including websites, devices and mobile apps, to drive monetization and user engagement. 

M&A Partners Jeffrey Wolf (Picture) and Steve Camahort led the Paul Hastings team, which included partners Dan Stellenberg, Lucas Rachuba, Scott Flicker, Sherrese Smith, and Todd Schneider; of counsels James Shea, Michael Wise, Jennifer Riddle, and Jeffrey Ii; and associates Erica Lee, April White, Randall Johnston, Bill McCue, Mary Walser, Ryan Enchelmayer, Talya Hutchison, Quinn Dang, John Gasparini, and Kami LaBerge.

 

 

 

 

 

 

 

Involved fees earner: Steve Camahort – Paul Hastings LLP; Quinn Dang – Paul Hastings LLP; Ryan Enchelmayer – Paul Hastings LLP; Scott Flicker – Paul Hastings LLP; John Gasparini – Paul Hastings LLP; Talya Hutchison – Paul Hastings LLP; Jeffrey Ii – Paul Hastings LLP; Randall Johnston – Paul Hastings LLP; Kami LaBerge – Paul Hastings LLP; Erica Lee – Paul Hastings LLP; Bill McCue – Paul Hastings LLP; Lucas Rachuba – Paul Hastings LLP; Jennifer Riddle – Paul Hastings LLP; Todd Schneider – Paul Hastings LLP; James Shea – Paul Hastings LLP; Sherrese Smith – Paul Hastings LLP; Dan Stellenberg – Paul Hastings LLP; Mary Walser – Paul Hastings LLP; April White – Paul Hastings LLP; Michael Wise – Paul Hastings LLP; Jeffrey Wolf – Paul Hastings LLP;

Law Firms: Paul Hastings LLP;

Clients: Connexity, Inc.;

Author: Martina Bellini