Matomy boosts stake in German affiliate
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The digital advertising firm Matomy Media Group Monday raised its stake in Team Internet – a Munich-based direct navigation Internet search company – to 70% from 20%. Matomy termed the acquisition its largest ever, but did not provide financial details. A source close to the deal said it was worth nearly 20 million euros ($27 million). Matomy CEO Ofer Druker said Team Internet will provide the company with another media channel to offer advertisers. Matomy, which helps advertisers to market goods and services through its network of online publishers, is moving forward with plans to float shares in London in September after calling off a planned initial public offering in April. Team Internet, which had revenue of $23.3 million in 2013 with earnings before interest, tax, depreciation and amortization of $4.2 million, will continue to be led by its three founders, under the direction of Chief Executive Nico Zeifang.
Tata unit forms Israeli innovation center
Tata Consultancy Services, part of the giant Indian conglomerate Tata Group, has set up an Israeli innovation center that will identify local startups for collaborative ventures. Ben Gilad was named head of the new center, which began operations last week as the 20th member of the Co-Innovation Network operated globally by TCS, which provides IT services, consulting and business solutions. Unlike other centers in the network, the Israeli center isn’t specializing in any particular area of technology. “We have seen a lot of American and Western companies engaging in collaboration like this. This is the first time that an Indian company of this size is doing it,” Eyal Muscal, the head of TCS in Israel, told TheMarker. In addition to TCS, Tata’s presence includes a $5 million stake in a technology fund sponsored by Tel Aviv University.
Dynamic Yield raises $12 million, recruits German strategic investor
Dynamic Yield, which helps marketers to create higher-yielding Web promotions and campaigns, said at the end of last week that it raised $12 million in a financing round led by U.S.-Israel investment firm Marker LLC. ProSiebenSat.1 Media AG, Germany’s largest media company, joined as a strategic investor and will market Dynamic Yield’s product in Germany, Austria and Switzerland, it said. In addition, existing investors Bessemer Venture Partners (BVP), Eric Schmidt’s Innovation Endeavors and the New York Times Company joined in the round. Dynamic Yield said it would use the funds to expand globally, expand its London and New York offices, and open a new office in Germany. Founded two years ago by CEO Liad Agmon and Chief Technology Officer Omri Mendellevich, Dynamic Yield says it optimizes over two billion website pages every month and delivers personalized promotions to more than 120 million monthly website visitors.