Sagi will merge Ajillion and Definiti Media with Crossrider.
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Teddy Sagi continues to expand his holdings in the mobile sector. The Playtech Cyprus Ltd. (LSE:PTEC) controlling shareholder has acquired two Israeli start-ups Definiti Media and Ajillion for about $15-20 million for both of them. The two companies will merge into the activities of Crossrider, which has developed a cross-browser platform, and which Sagi acquired in December 2012 for $37 million.
Ajillion, which was founded 12 months ago, develops management platforms for marketing in mobile communications for advertising networks, ad agencies and monetization platforms. The company works with major global ad agencies like McCann Erickson and Israeli companies Inneractive and ironSource. Definiti Media, which was founded two years ago, has developed a mobile ad network specializing in marketing solutions based on performance for advertisers and content websites.
Both companies were founded by Gilad Hellerman (43) and Etai Raz (39), without the assistance of external investors, and they will thus earn the entire proceeds of the acquisitions less tax. The two start-ups have 20 employees who will join the staff of Crossrider, which is based in Tel Aviv with operations in Romania and Ukraine. Hellerman will become head of Crossrider’s mobile division.
According to data provided by Crossrider, the two companies will benefit from an expanded platform with 2.5 million new users daily. Crossrider said, “The acquisitions of Definiti Media and Ajillion will significantly strengthen the mobile division in Romania and in Kiev. We have found in Definiti Media and Ajillion quality technology adapted for the good of our customers and for the benefit of future development.
Published by Globes [online], Israel business news – www.globes-online.com