Sumary of These 2 Nasdaq Gainers Are Worth a Closer Look:
- Making a connection Meanwhile, shares of Veritone (NASDAQ:VERI) rose almost 9%.
- The artificial intelligence (AI) operating system specialist made a strategic move that has investors excited about the company’s prospects going forward.
- Veritone announced that it will acquire PandoLogic for $150 million in cash and stock.
- PandoLogic provides employers with AI-powered tools that help them make smarter hiring decisions, using predictive algorithms and machine learning to recruit talent autonomously and then help bring top people on board.
- Veritone sees the move as enhancing the already extensive capabilities of its software-as-a-service platform, with Veritone CEO Chad Steelberg terming it a “transformative acquisition” that will accelerate adoption of AI in human resources.
- Of the $150 million, $85 million will go to PandoLogic up front, including $50 million in cash and $35 million in Veritone stock.