The shareholders of Gravity R&D Ltd, including OXO Technologies Holding Plc, have signed a share sale agreement with their former strategic partner, industry leader Taboola Europe Ltd. The sold technology company, which specialises in personalisation, offers a proprietary service to help e-commerce and digital media players to provide their customers with personalised offers and thus increase their sales. Founded in 2007 by experts in data science and machine learning, the company now has customers in more than 20 countries and currently provides more than 35 billion recommendations per month to leading retail, e-commerce and digital media players.
Gravity R&D’s acquirer is Nasdaq-listed Taboola, a global market leader in the personalised recommendations segment of the open web. The acquisition offer was made by Gravity Zrt. 100% of Gravity’s stake, the purchase price in HUF for the shares held by OXO Technologies Holding Plc was set at HUF 1 billion.. Further details of the private transaction are not disclosed, and the acquisition is expected to close at the end of the second quarter or the beginning of the third quarter of 2022.