Business update

RNS Number : 2943M

Sivota PLC

11 January 2023

 

11 January 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

SIVOTA PLC

("Sivota," or "the Company")

Business update

Si vota, the London listed investment vehicle focused on later-stage, Israeli technology companies, provides the following business update .

In May 2022 the Company completed the acquisition of a majority stake in Apester, an Israeli incorporated business which operates an innovative digital experience software platform that enables brands, publishers and creators to publish and monetize new interactive digital experiences on their sites and apps.

Since the acquisition, the Company has been implementing a number of strategic and operational changes within Apester, including the appointment of a new CEO, Itay Gissin, as well as other new board members and key executives.

Additional recent operational developments in Apester include:

● Appointed a UK Managing Director to accelerate the Apester 's growing presence in the UK;

● Signed a cooperation agreement with iDigital, a leading media agency in Brazil, to drive local expansion in the Brazilian media market;

● Signed multiple agreements with leading US & UK publishers, which will launch in early 2023;

● Completed integration with Permutive, a privacy safe infrastructure that helps publishers and advertisers to reach their audience. This integration is a key step in leveraging Apester's data capabilities , in line with the market trend of collecting and using 1st party data, in lieu of 3rd party platform cookies like Google and iOs;

● Launched a collaboration with ReedPop ENGAGE platform where Reedpop, a global publisher group, will be leveraging Apester's unique data capabilities for first party data.

Financially, since the appointment of Itay Gissin as CEO, Apester's revenues have consistently increased with losses reduced. The increase in revenues is attributed to closing deals with new customers and improving yield on the media assets under management.

In addition, Sivota continues to look for new investment opportunities and has identified a number of attractive prospects which it is currently evaluating. Sivota's board of directors believes that the current economic climate, along with the recent tech market valuation decline, creates attractive and significant investment opportunities for Sivota.  

Ziv Ben Barouch, Chief Executive Officer at Sivota, commented:

"We are delighted with the progress already being delivered across Apester.  The new management team is already implementing its ambitious strategic plan which I firmly believe will enable the business to fully exploit a number of near-term growth initiatives.  As we move forward into 2023, we expect to see continued strong progress in the Apester's business.

In addition, Sivota continues to be ideally positioned within the Israeli tech market place as economic conditions create new and attractive investment opportunities."

For further information, please visit www.sivotacapital.com or contact:

Sivota PLC Tim Weller, Non-Executive Chairman Ziv Ben-Barouch, Chief Executive Officer	via Vigo Consulting
Canaccord Genuity Limited Bobbie Hilliam	+ 44 (0) 20 7523 8000
Vigo Consulting Jeremy Garcia	+ 44 (0)20 7390 0230

 

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