Axel Springers’ Stepstone acquires Appcast

axel springer

Germany’s Axel Springer SE said its subsidiary, Stepstone, has acquired 85% stake in Appcast for a transaction value of $70 million.

Appcast is an American tech company providing so-called programmatic advertising.

The platform uses information stored on users browsers to serve job ads to them in an automated process.

Axel Springer said in a statement that:

“Through this acquisition, Axel Springer is continuing with its growth strategy and is expanding the portfolio of intelligent recruiting and matching technologies of Stepstone group.”

Earlier last month, KKR announced a tie-up with the company’s major owners to take the company private/