Till 10:00 am, the trading volumes on the counter more-than-doubled with a combined 61,221 equity shares changed hands on the BSE and NSE. There were pending buy orders for 95,619 shares on both the exchanges.
“The five-year deal ties NDTV Convergence exclusively to Taboola and involves a minimum guarantee of more than Rs 3 billion for NDTV Convergence, making it one of the largest deals not just for digital content but for the media space in its entirely,” NDTV said in a press release.
This is the largest deal that Taboola has ever signed in the APAC region. Taboola uses its presence on sites like NDTV to recommend content from across the internet to the audience and lo offer highly-personalized native advertising.
“Like NDTV, Taboola operates with the user al the centre of its universe which is what makes this such a natural fit,” said Suparna Singh, CEO of the NDTV Group. “Taboola’s energy and innovation allow us to enlarge our own goals; we share their pride and excitement in learning, redefining, and then recreating all over again. And this deal proves that Brand NDTV remains unchallenged and the go-to for world-class companies.”
The new partnership is vastly north of the last NDTV-Taboola arrangement that lasted three years and was worth Rs 1 billion based on traffic projections, the company said in its press release.