Skillz to Acquire Ad-Tech Company Aarki in $150 Million Deal

Mobile gaming platform Skillz (NYSE: SKLZ) is acquiring Aarki, a demand-side advertising company, for $150 million. The deal was announced on Wednesday morning and was followed by a conference call with additional details. Skillz will pay 60% in cash, which equates to $90 million. The remaining 40% will be financed with roughly 4 million shares of Skillz stock.

The acquisition is expected to close in the third quarter of 2021 and will add to Skillz's revenue. Management will soon release updated financial guidance to reflect this.

Image source: Getty Images.

Source Fool.com