Valassis, a Michigan-based media delivery company, announced early Monday morning that it will acquire MaxPoint Interactive Inc. for $95 million, or $13.86 a share in cash.

MaxPoint Interactive is a digital marketing technology company based in Morrisville, North Carolina, with approximately 391 employees worldwide.

The transaction was unanimously approved by MaxPoint’s board of directors.

MaxPoint stock closed Friday at $5.52 and soared over 148 percent to $13.69 Monday morning after the acquisition was announced.

“The combined team with our strong technical capabilities and client focused expertise will be second to none in the industry. As one team we’ll bring proven digital media solutions along with a simplified buying process to our clients,” stated MaxPoint Chief Executive Officer Joe Epperson.

This transaction by Valassis, a subsidiary of Harland Clarke Holdings, follows the news of the media company purchasing RetailMeNot for approximately $630 million.

The MaxPoint deal is expected to close in the fourth quarter of 2017. It will make MaxPoint a privately held company two years after the company publicly traded on the Nasdaq.