Ad company Matomy Media Group Inc. has acquired US digital advertising company Adperio Inc. for $30 million. The acquisition will be spread out over four years, during which the value of the deal will be set on the basis of Adperio's performance, possibly resulting in a final higher price tag.
This is second acquisition by Matomy, whose largest shareholder is Ilan Shiloach, after acquiring a Mexican digital advertising company earlier this year.
Adperio operates on social networks, managing Facebook credits for companies and brands. It is considered a leader in its field. The company was founded as Memolink in 1994 to manage affiliate programs on an e-commerce site, where it placed deals by large companies for external partners seeking to promote their business for a fee.
Matomy CEO Ofer Druker says that Adperio has an annual turnover of $50 million and has 50 employees at its Denver headquarters and London office. Adperio founder and CEO David Asseoff will keep his job after the closing.
Druker added, "This is an important strategic move to expand Matomy's operations in the US market, and to enter new media fields and categories, such as the entertainment and financial industries where Adperio has large clients."
Druker said that the acquisition would enable Matomy to expand its advertising and marketing foothold in the US, while giving Adperio's clients greater access to the European and Latin American markets where Matomy operates.
Published by Globes [online], Israel business news - www.globes-online.com - on July 24, 2011
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