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Matheson advises Kargo Global, Inc. on the purchase of StitcherAds

AUTHORs: David Fitzgibbon co-author(s): John Coary Services: Corporate and Mergers & Acquisitions DATE: 09/11/2021

Matheson recently advised Kargo Global, Inc. (“Kargo”), a US advertising-technology group, alongside Proskauer Rose LLP, on its acquisition of Waterford-based digital marketing company StitcherAds.

Kargo is a digital  advertising company that creates innovative campaigns for some of the world’s best-known brands. Kargo provides its customers with a mobile-first, editorial-led global marketplace of unique, multi-channel advertising and commerce opportunities. It employs approximately 225 people at offices in New York, Chicago, Dallas, Los Angeles, Auckland, Sydney, and Singapore.

Founded in 2009 in Waterford, StitcherAds provides a marketing platform that helps advertisers publish paid ads that drive sales via Facebook, Instagram, Pinterest and Snapchat, while also providing useful analytics. StitcherAds has seen significant growth during the pandemic and its customers include Macy’s, Calvin Klein, and Bed Bath & Beyond.

The agreement between the two companies means that Kargo will be in a position to provide its customers with access to a paid social advertising platform that helps brands and agencies run marketing campaigns on Facebook, Instagram, Snapchat, Pinterest, and TikTok.

The deal is part of Kargo’s broader vision for growth that could include an eventual IPO.

Kargo was advised by a cross-departmental Matheson team led by Corporate M&A partner David Fitzgibbon and Corporate M&A senior associate John Coary. The Matheson team working on the transaction involved a number of specialist departments from across the firm, including Data Protection, Employment, Pensions and Tax.

David Fitzgibbon, Matheson corporate partner commented:

“We are delighted to have had the opportunity to advise Kargo Global,Inc. on this exciting and strategic acquisition for the business. Kargo is one of the most innovative advertising-technology companies operating in the market and this acquisition will only strengthen its offering to its clients. We are very pleased to have worked with Harry Kargman and the entire Kargo team to deliver a deal which represents an important step in the business’s continued growth and development. We have recently advised on a number of transactions in the space and see huge potential for future growth in this market, both domestically and globally, as the pandemic has accelerated the shift towards e-commerce.”

With a wealth of experience across our six partner led offices worldwide and a dedicated 100 person Corporate Department, Matheson has some of the most experienced corporate lawyers in Ireland.  Excellence matters and Matheson’s Corporate Department, led by 23 partners, has unparalleled experience in complex and innovative domestic and international corporate transactions across all industry sectors.