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Teddy Sagi, whose empire includes forex broker Markets.com, binary options broker TopOption, and payments services provider SafeCharge International Group Ltd (LSE:SCH). Under the terms of the deal, Market Tech will pay $25.8 million initially, comprising $12.8 million in cash and $13 million in shares of Market Tech, equating to 3.5 million shares in the company priced at 242.8 pence. Market Tech shares were untraded on Thursday morning, having last traded at 248.00 pence. A deferred element of the buyout consideration in the amount of $8.7 million, is payable in installments to StuccoMedia’s co-founders Guy Weiss and Itay Itzhaki in the form of ordinary shares of Market Tech, subject to their continued involvement in Stucco Media over a period of two years. Weiss and Itzhaki, who own approximately 80% of Stucco Media, started the business three years ago. “This is an extremely exciting acquisition for Market Tech. StuccoMedia’s e-commerce technology will form the centrepiece of our transition to a fully integrated online/offline retail offering. Following the acquisition of Glispa in March this year we will now be able to leverage our real estate and e-commerce assets to provide a truly global online marketplace coupled with physical retail and leisure assets,” said Charles Butler, Market Tech’s chief executive. The Stucco Media deal follows Market Tech’s recent $77 million acquisition of Germany-based ad-tech company Glispa in March. Stucco Media operates an innovative and cost-effective algorithmic e-commerce marketplace technology for online retailers, for international marketplaces such as eBay and Amazon. The Stucco Media business model enables it to expand into different territories with minimal capital expenditure and is focused on delivering a global marketplace technology offering. The company enables its global client base to increase traffic volumes and sales, ultimately enhancing their return on investment. Through proprietary algorithms Stucco Media is able to fully automate its clients’ advertising, selecting products that are more likely to appeal to their customers, based on prior online behavior. Stucco Media has grown rapidly over the last three years and has generated in aggregate $100 million in sales for a number of online market places between October 2014 and March 2015. In the 2014 financial year, Stucco Media achieved audited revenues and EBITDA of $6.1 million and $0.82 million respectively. During the first quarter of 2015, Stucco Media’s total revenue was in line with total revenue for the full year ended 31 December 2014. EBITDA for the first quarter of 2015 exceeded EBITDA for the full year ended December 31, 2014. Market Tech combines the iconic Camden Market real estate assets with an e-commerce business operated through an online platform called market.com. Its real estate assets business is focused on retail, leisure and entertainment. The company owns approximately 11 acres of real estate assets in Camden, including the Stables Market; Union Street Market, (also known as Buck Street Market); Camden Lock Market; and Hawley Wharf, (also known as Camden Lock Village). The company also owns separate real estate assets on Camden High Street; Kentish Town Road; properties on Jamestown Road, (including the Camden Wharf Building); The Interchange Building on Oval Road and Utopia Village in Primrose Hill.]]>