Shares of Roku, Inc. (NASDAQ: ROKU) skyrocketed during the trading session of Thursday. The strong performance of the firm has indicated the positive reactions of the investors after the firm revealed that it has finalized the purchase of Nielsen’s Advanced Video Advertising (AVA) business.
Previously, the firm has disclosed the purchase deal on March 1, 2021. The purchase includes the video automatic content recognition (ACR) and dynamic ad insertion (DAI) technologies of Nielsen. They will speed up the roll-out of end-to-end DAI solutions for traditional TV of Roku.
Roku, Inc. (NASDAQ: ROKU) shares were trading up 3.73% as it has gained +13.98 at the time of writing on Thursday. Roku, Inc. (NASDAQ: ROKU) share price moved from a low point around $100.19 to temporarily around $486.72 in the past 52 weeks, though shares have since pulled back to $388.64. ROKU’s market cap has remained high, reaching $47.99 billion at the time of writing.
Strategic Collaboration Agreement
Furthermore, ROKU has also disclosed that it has inked a long-term strategic cooperation deal with Nielsen. The collaboration deal will consolidate matching Nielsen ad and content measurement products into the Roku platform and further develop Nielsen ONE, Nielsen’s cross-media measurement solution.