Smartsheet Inc. (SMAR) shares are trading more than 12 percent higher on Friday morning after the company announced the acquisition of Outfit, a brand management, templating, and creative automation platform. The acquisition will add to the digital asset management offering, Brandfolder by Smartsheet.
Smartsheet said it plans to quickly integrate Outfit's design automation and templating capabilities into Brandfolder.
Currently, Smartsheet shares are at $34.51, up 11.96 percent from the previous close of 30.82 on a volume of 1,947,840.
For comments and feedback: editorial@rttnews.com