SA crowdsourcing firm in merger deal
Interface, a provider of digital media services, is currently in talks to take a majority stake in South African Crowdsourcing platform, Evly.
The management at Evly confirmed that the group was in talks with Interface over a deal, which they hoped would be concluded at the end of last month (March).
It is believed that Interface will take a 70% stake in the crowdsourcing social network, although Evly could not confirm this as talks were still ongoing.
It is unclear how the acquisition would affect the day to day operation of both firms, nor is it clear what the financial implications of the deal is.
Co-founder of Evly, which launched in January 2010, Eran Eyal, left the group in June 2011 and has since launched Springleap, described as a white-labelled, embeddable social marketing design/ creative campaign platform for brands and agencies. He is based in Canada.
Co-founder of Evly, Eric Edelstein, stepped down from his position as CEO of the company in September last year. Edelstein said that he could not comment on the deal as a minority shareholder, but added that he was working on potential new ventures in the tech space.
In November 2012, local Internet company Incubeta Holdings bought Interface Holdings, in a deal worth R100 million, as part of its global expansion into the small and medium enterprise (SME) segment.
Incubeta Holdings also owns global paid search specialist Clicks2Customers.
Clicks2Customers was founded in 2003 by Vinny Lingham, Charlene Lingham, Eric Edelstein and Llewelyn Claassens, to bring the searchers and the relevant advertisers together.
It is understood that Interface will soon be known as Incubeta Holdings, with a name change expected soon. The website domain http://incubeta.co.za/ is currently under construction.
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