10:43 AM EST, 01/23/2025 (MT Newswires) -- Banzai International ( BNZI ) agreed to acquire marketing automation platform provider Act-On Software for $53.2 million in cash and stock.

The purchase is for $20 million in cash and $33.2 million in class A common Banzai shares or related prefunded warrants.

The transaction is expected to close in February, Banzai said Thursday in a statement.

Banzai expects the acquisition to increase revenue by $27 million in 2025.

Shares of Banzai fell 2.4% in recent Thursday trading, erasing earlier gains.

Price: 1.6`, Change: -0.04, Percent Change: -2.44