Rumble Inc. completed the acquisition of Locals Technology, Inc. for $7 million.
October 25, 2021
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Rumble Inc. (NasdaqGM:RUM) entered into an agreement to acquire Locals Technology, Inc. on October 25, 2021. Post deal completion, Rumble is integrating Locals with its existing platform using Rumble's cutting-edge cloud infrastructure.
Rumble Inc. (NasdaqGM:RUM) completed the acquisition of Locals Technology, Inc. for $7 million on October 25, 2021. The consideration was paid in $7.04 million in common shares and $419 in additional paid-in capital of Rumble Inc.
Rumble Inc. is a video sharing platform and cloud services provider. The Company comprises two segments: Rumble Services and Rumble Cloud. Rumble Services consists of three core businesses: Rumble Video, Rumble Studio, and Rumble Advertising Center (RAC). Rumble Video is enabled primarily through its flagship product, Rumble.com, a free-to-use video sharing and livestreaming platform on which users can watch, share, like, comment, and upload videos. Using Rumble Studio, creators can establish a variety of custom settings for their livestream, set up, go-live and control their livestream across multiple social platforms. Rumble Advertising Center is its proprietary advertising marketplace and network designed to facilitate transactions for advertisers seeking to access Rumble.com traffic and traffic from other publishers on the RAC network. Rumble Cloud is an infrastructure as a service (IaaS) offering consisting of a portfolio of compute, storage, security, and networking offerings.