NEW YORK: Twitter Inc. has acquired a minority stake in Aleph Group Inc.
Aleph did not reveal any financial terms of the investment but said Twitter’s stake buy would help the company expand its educational tech platform.
Emerging markets-focused Aleph, which helps large digital platforms connect with advertisers and customers, counts Meta Platforms Inc (FB.O) Spotify Technology SA (SPOT.N) and Microsoft Corp-owned (MSFT.O) LinkedIn among its customers.
Aleph was valued at $2 billion last year after private equity firm CVC Capital Partners bought a stake worth $470 million.
To recall, Aleph had filed for a U.S. initial public offering in October.
It may be mentioned here, last week Twitter completed the sale of its mobile ad platform, MoPub, to the mobile game maker and marketing software provider AppLovin for $1.05 billion in cash.
Founded as Internet Media Services (IMS), Aleph is a leading digital communications and marketing company, which creates partnerships with rapidly developing businesses that seek to expand their markets.
Aleph enables brands to reach new levels of attraction and grow through their exclusive ecosystem of commercial alliances, creative solutions, media management and investment services.
It exclusively represents leading global platforms such as LinkedIn, Twitter, Warner Music, Twitch, EA Games and Snapchat. These partnerships further strengthen IMS’s presence in Latin America.
Headquartered in Miami, company has additional offices in Brazil, Mexico, Argentina, Colombia, Chile, Panama, Peru, Ecuador, Uruguay, Spain and Italy.
Furthermore, the Aleph’s portfolio companies exclusively represent over 20 major global platforms in more than 50 markets worldwide.