CVC Capital invested USD470m for stake in digital-media company Aleph Holdings, at a USD2b valuation.
(WSJ) Digital-media company Aleph Holding said it sold a stake to private-equity firm CVC Capital Partners for $470 million, valuing the company at $2 billion. The company is preparing for an initial public offering as soon as early 2022, according to people familiar with the matter.
Aleph generates revenue by helping corporations and social-media companies, including Facebook Inc., Twitter Inc., and Snap Inc., work with each other in geographies mainly outside of the U.S. and Europe. It has been profitable for several years and wasn’t looking for new capital to fund its growth. Instead, this fundraising will allow existing employees and shareholders, including founder and Chief Executive Officer Gastón Taratuta, to sell stock.
In an interview, Mr. Taratuta said he had spoken with several private-equity investors but was most interested in CVC because of its global footprint.
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