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sold to

Market Tech Holdings

March 2015


About the Client

Glispa is a leading mobile marketing business, based in Berlin. Employing approximately 120 people, glispa helps over 550 advertisers to reach in excess of 2 billion mobile and web users globally.
With global publisher and advertiser reach, coupled with technologies such as deep linking, native ads and scientific optimization algorithms, all wrapped in a fully scalable big data technology, Glispa is well placed in the mobile commerce field. For more information please visit

About the Deal

GP Bullhound acted as the exclusive financial advisor to Glispa GmbH (“Glispa”) on the sale of a majority stake to listed Market Tech Holdings Limited (“Market Tech”), the owner of London’s iconic Camden Market.
The transaction terms include both initial consideration and a further commitment to invest to accelerate Glispa’s future development, in aggregate totaling €52 million. In addition, there are options, exercisable in the future, for additional consideration. Market Tech will take a controlling stake in the business. With the investment, Glispa will continue to focus on expanding its global footprint, and will look at acquiring the most talented adtech teams and technologies to enhance the value proposition specifically within the m-Commerce market.
Glispa will play a key role within Market Tech’s digital strategy, enabling it to deliver the Camden Market experience to a global m-Commerce audience.
The transaction underlines GP Bullhound’s depth of experience in digital marketing and adtech, being its eighth transaction completed in the sector in the last 14 months alone, and its third specifically in mobile marketing in the same period, including those completed for clients such as Realise, TLGG, Fjord, Somo, Great Fridays and Fetch.



Gary Lin founder and CEO of Glispa commented: “We are pleased to find a strong partner to support Glispa’s accelerated growth path. GP Bullhound’s impressive global reach and execution skills proved invaluable in identifying the right partner for our business and constructing a successful transaction. “
Simon Nicholls, Partner at GP Bullhound commented: “With mobile commerce expected to become the dominant online business model, we are seeing substantial growth and value creation in players such as Glispa, with leading expertise and technology in this arena.”
Julian Riedlbauer, Partner at GP Bullhound and head of the Berlin office, says: “This transaction shows GP Bullhound’s strong international presence and in-depth knowledge of potential buyers that leads to remarkable transactions for German internet and software companies with international strategic buyers and financial investors. It was a truly global deal involving my colleagues in San Francisco, London and my team in Berlin”.