Zeta Global Holdings Corp. (ZETA) witnessed a sharp decline of 11.62% in its stock price on Monday, following the announcement from Omnicom Group Inc. (OMC) that it has entered into a definitive agreement to acquire Inter..., a competitor of Zeta Global.
The acquisition of Inter... by Omnicom, a leading global marketing and corporate communications holding company, is expected to strengthen Omnicom's position in the data-driven marketing and customer experience management market, posing a potential threat to Zeta Global's business.
Zeta Global's CEO released a statement acknowledging the announcement as a "positive one for the industry," but investors seem to have interpreted it as a potential challenge for Zeta Global's future growth and market share, leading to the significant stock plummet on Monday.
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