Recommendation platform, Taboola, 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 on the open web, serving over 1,600 direct merchants, and 6,000 publishers.
Connexity’s core technology powers customer acquisition for merchants including Walmart, Wayfair, Skechers, Macy’s, eBay and Otto. The company 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 integrate more than 750 million product offers on their websites, providing a significant revenue stream.
The acquisition of Connexity aligns with Taboola’s “Recommend Anything” growth strategy to introduce new types of recommendations and enter new markets while leveraging its scale and recommendations platform to deliver value to its 9,000 digital property partners, 13,000 direct advertisers and 500 million daily active users.
This acquisition enables a new type of advertiser to connect with Taboola’s global audience across the open web, while providing publishers with a new and additional way to drive revenue growth, tapping into the estimated $35 billion U.S. e-Commerce media market, as well as the large global market.
Taboola’s technology coupled with Connexity’s retail expertise and index of more than 750 million product offers will help introduce a new type of recommendation offering for Taboola on the open web, connecting editorial content to product recommendations, so that readers can see and buy products related to stories that they are reading.
The deal is Taboola’s fifth acquisition and adds over 200 people to its team, bringing the number of total employees to approximately 1,600.
Adam Singolda, CEO and founder, Taboola.