EY Transaction Services teams advise Smartly in the sale of a majority stake to Providence Equity Partners
On December 18 it was announced that Providence Equity Partners LLC, a global Private Equity investor focused on Technology, Media and Telecommunications sector, has acquired a majority stake in Smartly.io Solutions Oy (“Smartly”).
Smartly, founded in 2013, is a Finnish based advertising technology (“AdTech”) start-up providing software solutions for companies seeking to automate their social media advertising activities. Smartly’s clients include global players such as Uber Technologies Inc and eBay Inc. The company has remained profitable and demonstrated strong growth for several consecutive years and is projected to generate ca. EUR 70m revenues in 2019.
EY provided financial and tax vendor due diligence services to Smartly in the transaction. The process specifically highlights EY’s capabilities in providing market leading vendor transaction advisory services in high profile transactions which generate wide interest in and exposure to a top tier international investor base.
Kalle Koskinen, Partner, International Tax and Transaction Services, tel. +358 40 7133 703, email@example.com
Jaakko Somersalmi, Partner, Transaction Advisory Services, tel. +358 40 701 5686, firstname.lastname@example.org