Davis Polk is advising Taboola in connection with its merger with Outbrain, Inc. The merger is subject to customary closing conditions. Under the terms of the merger agreement, Outbrain shareholders will receive shares representing 30% of the combined company plus $250 million of cash.

Taboola’s digital advertising platform and suite of products, powered by deep learning and the largest dataset of content consumption patterns on the open web, is used by over 20,000 companies to reach over 1.4 billion people each month. Outbrain’s native advertising technology is used by thousands of marketers worldwide, reaching over 1.2 billion people monthly. The combined company will reach nearly 2 billion people a month and will have over 2,000 employees across 23 offices, serving over 20,000 clients in more than 50 countries.

The Davis Polk corporate team includes partners Michael Kaplan and Lee Hochbaum and associate Elyka A. Anvari. Partner David H. Schnabel is providing tax advice. Counsel David Mollo-Christensen is providing executive compensation advice. Partner Pritesh P. Shah is providing intellectual property and technology advice. Partner Meyer C. Dworkin is providing finance advice. Partner Arthur J. Burke is providing antitrust and competition advice. Partner John B. Reynolds III and counsel Jeanine P. McGuinness are providing regulatory advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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