Banzai International (BNZI) agreed to acquire marketing automation platform provider Act-On Software for $53.2 million in cash and stock.
The purchase is for $20 million in cash and $33.2 million in class A common Banzai shares or related prefunded warrants.
The transaction is expected to close in February, Banzai said Thursday in a statement.
Banzai expects the acquisition to increase revenue by $27 million in 2025.
Shares of Banzai fell 2.4% in recent Thursday trading, erasing earlier gains.
Price: 1.6`, Change: -0.04, Percent Change: -2.44
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.