Benzinga | Sep 22, 2021 10:04AM EDT

Why Marin Software Shares Are Soaring Today

Marin Software Inc (NASDAQ:MRIN) is trading significantly higher Wednesday after the company announced a revenue share agreement with Google, which trades under parent company Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL).

The agreement calls for Marin Software to develop Google's enterprise tech platform and software products. The company has an existing revenue share agreement with Google that is set to be terminated on Sept. 30. The new revenue share agreement will be effective on Oct. 1.

Marin Software will receive revenue payments from Google based on revenue generated on its tech platform in connection with spend on search ads appearing on Google Search and other eligible search engines defined in the agreement.

Marin Software provides a cloud-based digital advertising management solution for search, display, social and mobile advertising channels to improve financial performance, realize efficiencies and time savings and improve business decisions.

MRIN Price Action: Marin Software has traded as high as $27.26 and as low as $1.18 over a 52-week period.

The stock was up 55% at $8.82 at time of publication.