Singapore Telecom is in advanced talks to buy the digital ad company, “The Wall Street Journal” reports.
Singapore Telecommunications Ltd. (SGX: Z74, ASX: SGT; Pink Sheets: SGAPY) (SingTel), Singapore’s largest mobile operator, is in advanced talks to acquire digital ad technology company Kontera Technologies Inc. for about $160 million, according to sources familiar with the matter, the “Wall Street Journal” reports.
According to the sources, a final deal for the sale of Kontera to SingTel could be reached in the next day or two, although the talks could still fail.
Kontera, which tracks content on social-media sites, was founded in 2000 by CEO Yoav Shaham and COO Assaf Henkin. The company is based in San Francisco and has its development center in Herzliya Pituach. Kontera provides an advertisement platform for websites that hyperlinks words to external content.
According to IVC-Online, Kontera’s annual estimated revenue was $50 million in 2011 and the company has raised more than $36 million from investors to date including Sequoia Capital, Carmel Ventures, Globespan Capital Partners LLC and Tenaya Capital Inc.
SingTel and Kontera declined to comment on the “Wall Street Journal” report.
In March 2012, SingTel acquired another Israeli digital ad solutions provider Amobee Inc. for $321 million in cash.
Published by Globes [online], Israel business news – www.globes-online.com