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Screenshot of a breaking news alert e-mail from Q2 2017
Online mogul Teddy Sagi, whose empire includes forex broker Markets.com, binary options broker TopOption, and payments services provider SafeCharge International Group Ltd (LON:SCH), has added to his stable with the acquisition of e-commerce marketing platform Stucco Media.
This acquisition was done via Sagi’s Market Tech Holdings Ltd (LON:MKT), the company through which Sagi recently consolidated control of London’s iconic Camden Markets. Market Tech is paying $25.8 million upfront, consisting of $12.8 million in cash $13 million in shares. There is also deferred consideration of $8.7 million, payable in shares between the first and second anniversary of closing. In addition to the $34.5 million total mentioned above, there is a success payment of a further $8.5 million in cash due in one year if certain delivery milestones are met.
Stucco Media’s platform, utilizing proprietary algorithms, is able to fully automate clients’ online advertising, selecting products that are more likely to appeal to customers based on prior online behavior. Its founders are still in their twenties, Guy Weiss and Itay Itzhaki.
The Stucco deal follows another recent online (and mobile-focused) ad technology acquisition for Sagi via Market Tech, the $77 million acquisition of Germany-based Glispa in March.
To see the press release on Stucco Media’s acquisition click here.