STG Affiliate (River Acquisition Corp) Acquires MediaValet Inc.
January 24, 2024
An affiliate of Symphony Technology Group (STG), River Acquisition Corp., has completed a cash acquisition of MediaValet Inc. for CAD$1.71 per share, valuing the company at approximately CAD$80 million. The transaction provides immediate liquidity to MediaValet shareholders (including Shen Capital) and will take the cloud-native DAM provider private to support continued product innovation and growth under STG ownership.
- Buyers
- River Acquisition Corp. (affiliate of STG), Symphony Technology Group (STG)
- Targets
- MediaValet Inc.
- Sellers
- MediaValet shareholders, Shen Capital and its affiliates
- Industry
- Cloud & SaaS
- Location
- British Columbia, Canada
- Transaction Type
- Buyout
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