Why Chegg (CHGG) Stock Is Gaining Today

NEW YORK (TheStreet) -- Shares of Chegg Inc. (CHGG) are higher by 3.33% to $5.59 on Tuesday following the learning platform company's announcement it agreed to purchase InstaEDU, an online tutoring market place.

The purchase agreement is for $30 million in cash and Chegg said it "believes the acquisition will be accretive to earnings as early as 2015."

The deal is expected to close this month.

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