- The agreement is part of a 30-year exclusive advertising deal
- LionTree, which is a co-investor in Yahoo, served as financial advisor on the transaction
- Evercore and LUMA Partners also advised Yahoo
Tech company Yahoo, which is backed by Apollo Global Management, has agreed to acquire a 25 percent stake in Taboola, a New York-based content recommendation company.
The agreement is part of a 30-year exclusive advertising deal.
“Partnering with Taboola enables Yahoo to further enhance the contextual and native offerings within our unified advertising stack,” said Jim Lanzone, CEO of Yahoo, in a statement. “The partnership also allows Yahoo and Taboola to continue to differentiate in market, improving user, advertiser and publisher experiences across properties, while benefiting from the long-term tailwinds in digital native advertising. Together with Taboola, we will maximize reach and campaign performance for advertisers, enhance monetization opportunities for publishers, and drive improved, privacy-forward experiences for users.”
The deal is expected to close in the first quarter of 2023.
LionTree, which is a co-investor in Yahoo, served as financial advisor on the transaction. Evercore served as advisor to Yahoo, with LUMA Partners also serving as an advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Erdinast, Ben Nathan, Toledano & Co. served as legal counsel to Yahoo. Davis Polk & Wardwell LLP and Meitar Law Offices served as legal counsel to Taboola.
