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Screenshot of a breaking news alert e-mail from Q2 2017
High value mergers and acquisitions are most certainly the focus of industry moguls during recent times, the latest of which is the acquisition of digital and mobile advertising firm Glipsa for 32 million Euros by Teddy Sagi’s Market Tech Holdings Ltd (LON:MKT).
According to Israeli news source Globes, Market Tech will invest an additional €20 million in digital marketing and mobile advertising company glispa to accelerate its growth. Glispa, which was founded six years ago, will also become part of the electronic trading operations of Camden market.
Glispa will play a key role within Market Tech’s digital strategy by becoming a full service solution provider for its own brands along with both current and future retailers. Market Tech recognizes Glispa’s growing global strength in mCommerce, which analyst firm Digi-Capital expects to will be the dominant business model creating over $516 billion in sales and driving more than 70% of all mobile internet revenue by 2017.
Glipsa stated last week that Market Tech Holdings had secured a deal worth $77 million in total.
With this investment, glispa will continue to focus on opening additional offices and expanding its global footprint, bolstering its proprietary advertising and optimization technology, attracting top talent and adding engineering as well as client focused staff.
Furthermore, the newly formed glispa Global Group will look at acquiring the most talented adtech teams and technologies to enhance the value proposition specifically within the mCommerce market.
As far as corporate synergy is concerned, glispa has stated that it complements Market Tech’s strategic portfolio of both e-commerce and technology companies.
Glispa will play a key role within Market Tech’s digital strategy by becoming a full service solution provider for its own brands along with both current and future retailers. Market Tech recognizes glispa’s growing global strength in mCommerce, which analyst firm Digi-Capital expects to will be the dominant business model creating over $516 billion in sales and driving more than 70 percent of all mobile internet revenue by 2017.
“This strategic investment helps us in realizing our vision – to help people discover brands and products that enrich and empower their lives through mobile advertising,” said glispa Founder and CEO, Gary Lin.
“With the Market Tech portfolio strength and the strategic investment, we’re now even more capable of providing advertisers our unprecedented global reach, technology innovations, and our stellar team, who are focused on helping clients reach their growth objectives” he continued.
“Glispa’s market-leading technologies and team will add significant value to our business and I want to start by welcoming glispa to Market Tech group.” said Charles Butler, chief executive of Market Tech. “We see the future of online retail being via mobile devices and glispa’s proprietary technologies are at the cutting edge of m-commerce, helping businesses interact with their customers on-the-go.
As well as his strong commercial interest in the FX industry, Mr. Sagi is renowned for his vast and prominent enterprises. Last year, he purchased a section of popular arts and crafts venue Camden Market in London. After acquiring the Camden Stables Market section in March 2014 for $632.2 million (£400 million), Mr. Sagi has acquired Camden Lock Market in the latter part of last year for approximately $144.7 million (£90 million), hoping to expand his control of one of London’s most established cultural landmarks.
For the official announcement from Glipsa, click here.