RTTNews | Jul 13, 2021 12:09PM EDT

12:08 Tuesday, July 13, 2021 (RTTNews.com) - Technology-driven business solution and assets management company, Safeguard Scientifics, Inc. (SFE) is up 10% on the news of Mediaocean signing a definitive agreement to acquire Flashtalking.

According to the company, Safeguard will receive $43 million from the transaction which is set to be completed in the third quarter of 2021. The deal is valued at $500 million.

The CEO of Safeguard, Eric C Salzman said, "We are excited about the pending acquisition of Flashtalking by Mediaocean, which represents another meaningful step in our strategy to monetize Safeguard's ownership interests. We also want to congratulate the Flashtalking team led by CEO John Nardone on achieving this significant milestone and thank them for their hard work and focused execution."

Currently, the shares are trading hands at $8.59, up $0.92 or 11.99% from their previous close at $7.67 at the bell on Monday. The shares opened at $7.84 in the morning and in the 52-week period, the shares ranged from $5.15 and $8.59.

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