Ebiquity Plc
("the Company" or "Ebiquity")
Acquisition of Media Value
Ebiquity plc is pleased to announce the acquisition (the "Acquisition") of the entire issued share capital of Media Value SL, incorporated in Spain (together with its subsidiaries "MV"). MV has operated as Ebiquity's franchise partner for media auditing in the Iberian market since approximately 2008 and has been operating under the Ebiquity name.
MV is being acquired for an initial cash consideration of €743,000 which is being satisfied from existing banking facilities. The maximum total consideration is up to €6m, payable in cash, depending on the performance of the MV business in the three financial years ending 30 April 2016. The Acquisition is expected to be earnings enhancing in the first full financial year.
MV is being acquired from shareholders including its co-founder Mauricio Barange. Following completion of the Acquisition, Mr Barange will remain as Chief Executive of MV.
MV comprises two divisions. The first is a leading independent media auditing and benchmarking business. This business will be included in Ebiquity's Media Value Measurement division. MV's second business comprises an ROI/effectiveness practice, which will be included in Ebiquity's Marketing Performance Optimization division. MV has offices in Madrid, Barcelona and Lisbon.
MV's unaudited revenue for the year ended 30 April 2014 was approximately €2.3m and it generated an operating profit before highlighted items of approximately €0.3m. MV had unaudited net assets of approximately €0.5m at 30 April 2014 and employs 32 people.
Michael Greenlees, Chief Executive Officer of Ebiquity:
"I am delighted that Mauricio Barange and his colleagues have now formally joined our growing business. MV has been operating under the Ebiquity name for some time and has played an important part in the European development of the Ebiquity group. The Iberian business has performed well and this acquisition marks another step in the development of Ebiquity's leading position in marketing and media data analytics across Europe."
26 February 2015
Enquiries:
Ebiquity plc Michael Greenlees (CEO) Andrew Beach (CFOO) Instinctif Partners Matthew Smallwood Guy Scarborough |
020 7650 9600 020 7457 2020 |
Numis Securities Limited Nick Westlake (NOMAD) David Poutney, James Serjeant (Corporate Broker) |
020 7260 1000 |
