Matomy Media Group, the Israeli digital advertising firm, has revealed that it is planning to raise $100m by launching an initial public offering on the London Stock Exchange.

Although there is no timeline set for the IPO, Matomy said it "plans to use the proceeds in part to acquire additional shares in Team Internet AG, increasing its stake to 70% from 20% at a cost of $19.3m (£11.6m, €13.9m)."

"Matomy is undertaking the IPO to gain additional capital to accelerate its development and growth," it added in a statement.

Matomy is based in Tel Aviv, Israel, and is one of the country's largest digital advertising and marketing companies.

It was launched in 2007 and has generated positive adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) every year since 2008.

Research firm ZenithOptimedia has estimated the global digital advertising market to grow to $156.2bn by 2016, from 2012's total of $88.8bn.

The group also said that mobile, social media and video are among the fastest growing media channels, with expected annual growth rates of 54%, 30% and 23%, respectively, from 2012 to 2016.

Matomy operates in these segments of digital advertising and performance-based advertising.

"Matomy comes to market with a consistent record of strong growth in both revenues and EBITDA, and bright prospects for the future," said Ofer Druker, Chief Executive Officer.

In preparation for the IPO, Matomy has appointed four independent non-executive directors to complement the existing Board under the continued Chairmanship of Ilan Shiloah.

"Our experienced management team has the ability and ambition to continue to deliver on our plans. The funds raised through the IPO will give us a strong platform for further growth," said Shiloah.

"Additionally, I am delighted to welcome our new non-executive directors, including Rupert Howell as Deputy Chairman and Senior Independent Director, and Gary Hughes as the Chairman of the audit committee, to Matomy."