Taboola, a provider of digital ad spaces that frequently appear at the bottom of websites, is making its way to the exchange. The company announced on Monday that it will do so via the favorite public car of our time: a Special Purpose Acquisition Company (SPAC).

The current Taboola work in SPAC, which is an existing stock called ION Acquisition Corp 1 Ltd. (New York Stock Exchange: IACA)Thus it became a public joint stock company.

Tabouleh said the deal is expected to end in the second quarter. The resulting entity will operate under the current name, and its bar code should change to TBLA.

Tabbouleh said his merger with ION would bring in total revenues of $ 545 million, between ION trust funds and third-party investments. According to Taboola, this estimates the combined entity at $ 2.6 billion. The company said it will allocate more than $ 100 million to research and develop growth opportunities. He did not give details of other spending targets.

As a private company, Taboola does not provide much detail on its finances. In the public announcement on its website, it said its revenue, excluding traffic acquisition costs, was $ 379 million in 2020. Operating profit came in at $ 34 million, EBITDA adjusted (earnings before income, taxes, depreciation and amortization) Topped 100 million. The bottom line number was not provided.

In its words, Taboola “enables digital property owners to capitalize on the value of AI-powered recommendations and provides advertisers with a way to effectively reach users in the open web.

The scale of what it describes as the „highly fragmented advertising market in the open internet” was estimated at $ 64 billion last year.