Teddy Sagi’s Market Tech Holdings (AIM: MKT), through which he owns Camden Market in London, is expanding its electronic operations by acquiring a controlling stake in German company glispa for €32 million. Market Tech group has a market cap of $1.4B USD.
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.
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glispa, digital marketing and mobile advertising company, announced that it 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. glispa complements Market Tech’s strategic portfolio.
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. According to eMarketer, the worldwide mobile ad market will grow to nearly $65 billion in 2015, up over 60 percent from 2014. That figure will reach $158.55 billion by 2018, when mobile ads will account for 22.3% of all advertising spending worldwide.
glispa maintains an international reach of about one billion active mobile users and serves over 400 billion ad impressions monthly. The world’s largest mobile rands, including Alibaba, Amazon, Flipkart, Gilt Group, OLX, Baidu, Hasbro, Zynga and Gumi, rely on glispa’s global impact and dedicated, multicultural teams to expand their business and accelerate growth around the world. “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.