Global media player Aleph Group has acquired Ad Dynamo, a Cape Town-based digital media sales business backed by Invenfin, the venture and growth capital division of Remgro.
Ad Dynamo is the exclusive media sales partner for Twitter, Snap, Spotify and other platforms in sub-Saharan Africa.
“The acquisition by Aleph, global partner to the world’s biggest digital media players, will accelerate Ad Dynamo into its next phase of growth — scaling its services to more platforms and more countries across the African continent,” Ad Dynamo and Aleph Group said in a statement on Thursday. Ad Dynamo was founded by Sean Riley, who continues to serve as its CEO.
The value of the acquisition has not been disclosed. The acquisition follows a US$470-million investment in Aleph by CVC Capital Partners in 2021.
“The transaction allows Aleph to expand into the fast-growing African digital advertising market, with Aleph confident that adding Ad Dynamo to its portfolio will cement its global footprint and growth trajectory,” the companies said in the statement.
“A South African-founded company being sold to an international business does not happen every day. This is great news for our economy and validates the fast-growing local tech ecosystem,” said Invenfin CEO Stuart Gast.
Though none of the parties disclosed financial numbers, they did sat that Ad Dynamo has “more than tripled” its revenue in the past four years.
“This is a milestone deal for Invenfin, both because Ad Dynamo was our first-ever investment over 10 years ago and because the transaction is material and generates strong financial returns for all Ad Dynamo’s shareholders.”
Riley said: “We are very grateful for Invenfin’s strong support and partnership, which has been critical to the success of Ad Dynamo, and we hope this successful exit inspires the next generation of entrepreneurs throughout the African start-up ecosystem.”
Aleph’s acquisition of Ad Dynamo excludes Blue Robot, its digital messaging and marketing technology solution. – © 2022 NewsCentral Media