Benzinga | Oct 7, 2021 08:43AM EDT

Why Vinco Ventures Shares Are Surging Higher Today

Vinco Ventures Inc (NASDAQ:BBIG) is surging higher Thursday morning after the company, and ZASH Global, reported the purchase of AdRizer for $108 million in cash and stock. $25 million will be paid in cash and the remaining amount will be issued in equity of ZASH common stock. The common stock will come with a two-year lock up period.

AdRizer is a publisher and analytics solution with a focus on revenue attribution. AdRizer will be integrated in the Lomotif platform for ad placement revenue similar to other technology platforms such as Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google ad words and Facebook Inc's (NASDAQ:FB) Ad Manager.

"Not only will AdRizer continue to do its core business with external clients and grow aggressively, we see great potential to monetize Lomotif, and we could not be more excited about the future," said Ted Farnsworth, co-founder and chairman of ZASH Global.

Vinco Ventures is a vertically-integrated, end-to-end, consumer product research and development, manufacturing, sales and fulfillment company.

BBIG Price Action: Vinco Ventures has traded as high as $12.49 and as low as $1.11 over a 52-week period.

The stock was up 22.20% at $6.12 at time of publication.