Baker McKenzie Kyiv has advised Septa Communications on its sale to Israel-based Perion Network Ltd.
The total amount of the deal is USD 3.75 million, which consists of a cash payment at closing and earn-outs that are to be paid within two years provided the startup reaches its performance goals.
Perion Network is an Israeli ad-tech company listed on NASDAQ and the Tel Aviv Stock Exchange. The company delivers data-driven online advertising and search solutions to brands and publishers.
According to Perion, the acquisition was made to complement Undertone, a “synchronized digital branding” platform that the Israeli company bought in 2015 for USD 180 million.
Septa Communications is an IT development company, which applies AI-driven technologies to marketing. Trading as Captain Growth, the company is a Ukrainian AI startup that is active in artificial intelligence in various advertising channels. Captain Growth was launched in 2017 as a platform that analyzes the performance of Facebook and Google AdWords ads and provides the user with recommendations on how to improve the efficiency of a campaign.
Dmytro Bilash and Dmytro Plieshakov, Captain Growth Co-founders, were represented by Baker McKenzie’s Senior Associate Andrii Finogin.
Baker McKenzie did not reply to our inquiries about the deal.