Chegg Shares Up 8% on Busuu Acquisition Announcement 
<p><a href='https://financialmodelingprep.com/financial-summary/CHGG'>Chegg, Inc. (NYSE:CHGG) </a>shares closed more than 8% higher Tuesday, following the company’s announcement, according to which it is going to acquire Busuu, an online language learning platform targeting both students and professionals in the workplace. </p>
<p>The $436 million cash acquisition is expected to help diversify Chegg’s business model and provide it with a strong foundation of users internationally (90% of Busuu’s subscribers are outside of the U.S.). </p>
<p>The company also announced a proposed $300 million accelerated share repurchase transaction under the previously announced $1 billion securities repurchase program.</p>

NYSE:CHGG