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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Why Digital Turbine Stock Popped Today

Evan Niu, CFA, The Motley Fool
·2 min read
Why Digital Turbine Stock Popped Today

Shares of Digital Turbine (NASDAQ: APPS) popped by 14% today after the company said it would acquire AdColony. AdColony is a mobile ad platform that has 1.5 billion monthly active users worldwide. Digital Turbine has agreed to pay approximately $350 million to $375 million, which consists of $100 million in cash at closing, another $100 million in cash six months after closing, and earn-out payments of $150 million to $175 million contingent upon AdColony achieving certain performance targets in 2021.

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