Latham & Watkins Advises Taboola in NYSE Listing at an Implied US$2.6 Billion Valuation via Merger with ION Acquisition Corp. 1 Ltd.

Taboola, a global leader in powering recommendations for the open web, helping people discover things they may like, has announced it has entered into a definitive merger agreement with ION Acquisition Corp. 1 Ltd. (NYSE: IACA), a special purpose acquisition company. The combined company will operate under the Taboola name and will trade on the NYSE under the new symbol “TBLA”. The transaction is expected to close in Q2 of 2021.

Latham & Watkins LLP represented Taboola in the transaction with corporate team led by M&A partners Justin Hamill, Josh Dubofsky, and Navneeta Rekhi and capital markets partners Marc Jaffe and Senet Bischoff, with M&A associates Michal Netanyahu, Tessa Bernhardt, Erika Solanki, Trevor Kim, and Dan Goldschmidt, and capital markets associates Kaj Nielsen and Patrick Maguire. Advice was also provided on tax matters by New York partner Lisa Watts, with associate Eric Kamerman; on benefits and compensation matters by Los Angeles/Orange County partner Michelle Carpenter; on IP matters by Los Angeles partner Ghaith Mahmood, with counsel Jia Jia Huang and associate Nicole Nour; on data privacy and security matters by Bay Area counsel Robert Blamires, with associate Kiara Vaughn; on antitrust matters by Washington, D.C. partner Mandy Reeves, with counsels Joseph Simei and Peter Todaro; on CFIUS matters by Washington, D.C. partner Les Carnegie, with associate Zachary Eddington; on public company representation matters by New York partner Jenna Cooper, with counsel Irina Yevmenenko; and on real estate matters by New York partner Michelle Kelban, with counsel Shira Bressler.