Real estate asset manager and e-commerce company Market Tech paid $77m yesterday for an undisclosed majority stake in Germany-based digital marketing company Glispa.
Founded in 2008, Glispa has developed a product suite that enables advertisers to increase user acquisition and reach monetisation goals on mobile platforms.
The company serves more than 400 billion advert impressions per month, with clients including internet companies Amazon, Alibaba and Baidu.
Glispa, which currently operates offices in the US, China, India and Brazil, will use the funding to support international expansion, and to continue development of its technology while increasing its engineering and customer support teams.
Gary Lin, Glispa’s founder and CEO, said: “This strategic investment helps us in realising our vision – to help people discover brands and products that enrich and empower their lives through mobile advertising.
“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.”
Glispa is also considering strategic acquisitions, though no details about any such deals have yet emerged.