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Israeli online ad firm Matomy mulls overseas share sale

Reuters - UK Focus

* Expects 2013 sales to jump to about $200 mln

* Growth boosted by two U.S. acquisitions

By Tova Cohen

TEL AVIV, Sept 16 (Reuters) - Israeli digital advertising firm Matomy Media Group is looking to a stock market flotation overseas or a private placement to fund its growth, the company's chief executive said.

Matomy, whose clients include American Express, AT&T (NYSE: T - news) and HSBC (LSE: HSBA.L - news) , helps advertisers to market goods and services through its network of online publishers. It earns a fee for every transaction completed through its platform so that companies pay only for results in what is known as performance-based advertising.

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"There is a window of opportunity. I think in the next month or two we will have to decide where we are going and when," Chief Executive Ofer Druker told Reuters.

He declined to say how much the company would seek to raise, other than to say it would be a "meaningful" amount.

But a market source who asked not to be named said it would be about $100 million.

If the company decides to go for an initial public offering it would be in one of the top capital markets abroad, Druker said.

Matomy's revenue in 2013 is expected to reach around $200 million, up from $120 million in 2012 and the company is profitable. Growth was driven by two U.S. acquisitions this year - digital media agency MediaWhiz and mobile affiliate network Mobaff.

Chairman Ilan Shiloach, head of Israeli ad agency McCann Worldgroup Israel, holds a 29 percent stake in Matomy. Viola Private Equity (Swiss: PEHN.SW - news) owns 21 percent and Druker, who served 14 years in Israeli military intelligence, holds 9 percent.

Matomy's competitors in performance-based advertising include Sweden's TradeDoubler and Berlin-based Zanox, a joint venture between German media group Axel Springer (Berlin: SPR.BE - news) and Swiss PubliGroupe. ValueClick in the United States is the world's biggest player.

The online advertising market was estimated to be worth $100 billion in 2012, with performance-based accounting for two thirds.

About half of Matomy's business is in the United States and one quarter is in Europe, mainly Germany, Spain, the Netherlands Britain and France.