Rumble (NASDAQ: RUM) saw a 17% surge in premarket trading after reporting Q2 earnings and revealing plans to acquire Northern Data for $1.17 billion in an all-stock deal. The offer values Northern Data at $18.27 per share, based on Rumble’s Friday close. Q2 results showed a loss of $30.2M, revenue of $25.1M (up 12% YoY), and 51M monthly active users. ARPU rose to $0.42. Northern Data shares dropped 9% on Monday but the company is open to discussions. Stay tuned for updates as the story develops.

Read more at Quiver Quantitative: Rumble Shares Jump on Q2 Results, $1.17B All-Stock Bid for Northern Data