Telecom Lead Middle East: An investment fund advised by
J.P. Morgan Asset Management will pick up nearly 7 percent stake in Conduit, a
provider of engagement solutions for web and mobile publishers, for
approximately $100 million.
With this, the company will be valued at $1.3 billion.
Founders Ronen Shilo, Dror Erez and Gaby Bilzyk maintain a controlling stake in
the company.
As our constantly connected world continues to evolve,
the ways that we engage our users must change with it. The next few months will
be some of the most important in the history of Conduit, and we’re thrilled to
have partners like J.P. Morgan Asset Management as our company continues to
grow,” said Conduit Founder, chairman and CEO Ronen Shilo.
Conduit is Israel’s first billion dollar internet company
and empowers web and mobile publishers to engage their users across multiple
platforms.
We are excited to partner with Conduit. We recognize the
company’s demonstrated ability to supply innovative products enabling web
publishers to continually engage with their users across multiple platforms,”
said Robert Cousin, managing director, J.P. Morgan Asset Management.
The company’s products enable publishers to connect with
their users. Conduit’s solutions help more than 260,000 publishers to generate
billions of monthly interactions with their 250 million users.
Major League Baseball, Groupon, Fox News, Travelocity,
and The Weather Channel are some of the brands leveraging Conduit’s free
solutions to keep their users engaged.
