02 May 2014
TMT INVESTMENTS PLC
("TMT" or the "Company")
Investment in Drippler Ltd
TMT Investments PLC, which invests in high-growth, internet-based companies across a variety of sectors, is pleased to announce the completion of an investment in Drippler Ltd (www.drippler.com).
Incorporated in Israel, Drippler Ltd ("Drippler") is a mobile and web-based discovery service helping people adopt everyday technology in an easy and interactive way. Drippler provides users with daily tech tips and recommendations, ranging from new apps, products and features to how-to's and various updates. With over 5.5 million users, Drippler has been recommended by such leading brands as Samsung, ASUS, Verizon and AT&T, and was selected by Google as one of the Best Apps of 2013. According to Techcrunch (13 August 2013), "given the increasingly crowded mobile app ecosystem, Drippler occupies an interesting niche where it's part mobile news magazine, and part app recommendation service."
TMT has acquired ordinary shares representing 1.86% of Drippler's fully diluted equity capital, for an aggregate consideration of US$200,000.
Drippler was founded by Matan Talmi (CEO), Dotan Galron (Chief Product Officer) and Ronen Yacobi (Chief Technology Officer). The three started working together 14 years ago, when serving at the Israel Defense Forces' technology unit.
Definitive agreements for the transaction were entered into, and the transaction was completed, yesterday.
For further information contact:
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based companies across a variety of sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has raised USD28m and invested in 30 companies to date. The company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com
