12:14 PM EST, 12/20/2024 (MT Newswires) -- Banzai International ( BNZI ) said Friday that it agreed to acquire Vidello, a video hosting and marketing suite, for up to $7 million.

The transaction includes up to $5.5 million in cash and $1.5 million in shares and/or pre-funded warrants in lieu thereof, the company added.

Banzai said it expects the deal to grow revenue by $6.5 million and raise EBITDA by $2.3 million for the 12-month period ended Sept. 30 on a pro-forma basis.

Shares of Banzai were up more than 3% in recent trading.

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