​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.

The announcement triggered a 148.19 percent jump in Maxpoint shares to $13.70, up $8.18. At one point the price reached $13.75.

Shares had recently recovered from a 52-week low of $3.85.

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

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

MaxPoint stock closed Friday at $5.52.

“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,” said MaxPoint Chief Executive Officer Joe Epperson.

“This marks a great milestone for MaxPoint, our clients and our stockholders,” he added.

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

“The acquisition of MaxPoint, following on the recent acquisition of RetailMeNot, is another key transaction that will significantly increase our digital presence. It will create greater strength in managing integrated media delivery campaigns for the world’s largest consumer products companies, retailers and agencies,” said Victor Nichols, CEO of Harland Clarke Holdings, in a statement. “This will result in operating efficiencies and deeper digital expertise that will provide more effective solutions for our global clients as well as the tens of thousands of small and medium-sized businesses we serve.”

Valassis Digital President Cali Tran added that Maxpoint staff and technology bring a “strong complement to our team and industry leading solutions. Combining MaxPoint’s rich consumer intelligence with Valassis’ robust data and analytics capabilities will help deliver more personalization, targeting and measurement at unmatched scale.

“Together, we will have a world class research and development team to create leading technology solutions that will help advertisers drive higher performance with their media strategies.”

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.