Berlin-based mobile advertising company glispa has received an investment of $77 million from Market Tech Holdings (LON:MKT), which in turn is acquiring a majority stake in the firm.
The cash injection will allow glispa to expand into different territories with new office space, strengthen its technology, and attract talent in the engineering space as well as those focused on clients.
Targeting glispa is an understandable move from Market Tech, the London-based outfit whose portfolio of ecommerce and technology companies is complemented by glispa's expertise in assisting the world's top mobile advertisers.
Indeed, the digital marketing firm will become a full service solution provider for all Market Tech's brands, too.
"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 Gary Lin, glispa founder and CEO.
“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.”
Market Tech also shared its positivity about the deal:
“glispa’s market-leading technologies and team will add significant value to our business and I want to start by welcoming glispa to Market Tech group, ” said Charles Butler, chief executive of Market Tech.
“We see the future of online retail being via mobile devices and glispa’s proprietary technologies are at the cutting edge of m-commerce, helping businesses interact with their customers on-the-go. “