Conduit confirms $100m JPMorgan investment

Yozma Venture Capital is selling its 7% stake in the Internet company reflecting a company value of $1.3 billion.

Conduit Ltd. has confirmed that an investment fund advised by JP Morgan Asset Management has agreed to acquire a 7% stake in the company for $100 million, reflecting a company value of $1.3 billion. Conduit founders, chairman and CEO Ronen Shilo, Dror Erez and Gaby Bilzyk, will keep their controlling interests in the company.

The seller of the stake is Yozma Venture Capital.

Ronen said, “Our partnership with JP Morgan Asset Management is validation of the power of our suite of engagement products. 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 JP Morgan Asset Management as our company continues to grow."

JP Morgan Asset Management managing director Robert Cousin said, "We recognize the company’s demonstrated ability to supply innovative products enabling web publishers to continually engage with their users across multiple platforms."

Published by Globes [online], Israel business news - - on April 15, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס MAD Conference 2017