Report: Teddy Sagi Acquires Adience For $20M

December 25, 2014 | The Teddy Sagi Group has acquired the Israeli company Adience for $20 million, according to a “Globes” report. Adience has developed a system to manage mobile user applications, based on deep learning technology. Adience was established a mere 18 months ago and currently employs 10 at its offices in Tel Aviv. The company was founded by veterans of the Israeli Defense Force special unit 8200, CPO Sasha Medvedovsky, CTO Eran Eidinger, and CEO Roee Nahir. Adience is thought to have raised $1.6 million since its founding, which gives shareholders 13 times the return on their initial investment. Teddy Sagi hopes to grow his portfolio of ecommerce companies, which is connected to his recent purchase of London’s leading marketplace Camden Market.