Aleph Holding expands to the Middle East, acquires majority stake in Connect Ads
Aleph Holding, global partner to the world's digital media players, announced its acquisition of majority stake in Connect Ads, a digital media and advertising solutions provider specialising in the Middle East and Africa.
Aleph Holding's family of brands help advertisers maximise the value of their investment, while serving as an extension to the leading players in digital media in 75 markets globally. The Connect Ads acquisition adds 15 markets to this global portfolio – meaning Aleph now operates in a total of 90 markets. Recently Aleph confirmed a $2 Billion valuation after private equity firm, CVC Capital Partners invested $470 milion for a minority stake in the company.
Gastón Taratuta, Founder and CEO of Aleph Holding said, "The Middle East and Northern Africa represent an exciting range of regions for us. Within our business we're passionate about unlocking the value of digital media in countries with 450 million population and +100 million unduplicated users in the platforms we represent – whether it's for global brands or small family-run businesses, it doesn't matter if you're a start-up or a $billion company – digital media platforms democratise the opportunity to connect with and sell to your audiences. We trust Connect Ads' leadership and execution, who have been operating in these markets since 1998 and we are joining together to democratise the use of core digital advertising tech products across the globe."
Connect Ads has successfully developed a presence in the Middle East and Africa for global digital media platforms such as Twitter, Spotify, TikTok, Verizon and LinkedIn. It also serves more than 600 brands and advertisers each quarter, with a comprehensive suite of solutions that cover all buying models and formats. The deal will accelerate Aleph's acquisition of new partners in the region, as well as the expansion of solutions into the SMB market.
Mohamed El-Mehairy, CEO of Connect Ads said, "We work in an exciting region that is seeing consistent growth - with new partners entering the region, and a diverse set of advertisers investing across our solutions. The Middle East in particular is set to see an acceleration in digital media buying. Next year Qatar will host the soccer World Cup, reflecting enormous potential for expansion in the market. Backed by the scale we now have as part of Aleph, Connect Ads is ready to help the region capitalise on this opportunity."
Aleph Holding's acquisition of 86% stake in Connect Ads through a cash and swap structure is subject to final regulatory approval. Connect Ads operates in these 15 markets: Egypt; Morocco; Tunisia; Algeria; Lebanon; Jordan; Saudi Arabia; Kuwait; Qatar; Bahrain; Oman; Pakistan; Turkey; UAE; and Italy.