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Adobe Systems to Boost Marketing Footprint With TubeMogul

Advertising technology provider TubeMogul (TUBE) has agreed to be acquired for more than $500 million, leaving industry followers to wonder if spring is finally coming to the sector.

Adobe Systems (ADBE) announced Thursday that it has agreed to acquire TubeMogul for about $540 million, or $14 per share. Adobe anticipated the transaction would close during the first quarter of its 2017 fiscal year, or by early March.

Shares of TubeMogul rallied 81.8% to $13.94 on Thursday from their $7.67 close on Wednesday.

Adobe received legal counsel from a Weil, Gotshal & Manges team of Jane Ross, Helyn Goldstein, John Brockland, Randi Singer, Amy Rubin, John Scribner, Steven Tyrrell and Ted Posner.

While the Emeryville, Calif., ad tech provider has fetched a nice premium, it also could have attracted a better deal down the road if it had been able to execute further as a standalone entity, Boenning & Scattergood analyst Murali Sankar said.

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"This is a great deal for Adobe. I don't think they're paying a lot," he said, adding that the tie-up with Adobe will give TubeMogul access to data and marketing...


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