An affiliate of Viola Group, an investment consortium with nearly $2 billion under management, the PE fund will hold 21% of Adsmarket’s shares, valuing the company at $80 million pre-money.
Of the full investment amount, $12 million will be used to acquire shares from current shareholders, while $5 million will be effectively invested in the startup.
The agreement was signed at the beginning of July and the closing of the deal is expected to take place later this month.
While originally focused on Europe, the company has expanded to the Americas in the past 3 years, growing sales from $7 million in 2007 to an impressive estimated total of $80 million for this year. The company employs around 140 people, 120 of whom are based in Israel.