(London: 2nd May 2014) M&C Saatchi PLC (“M&C Saatchi”) has today purchased an additional 20% of M&C Saatchi Mobile Limited, the hugely successful mobile advertising agency, for £5.6m. D5 Capital advised the Vendor on the secondary sale, having managed the original sale of M&C Saatchi Mobile (previously called Inside Mobile Limited) in June 2010.
Application has been made to the London Stock Exchange for the Admission of 2,030,131 new ordinary shares of 1p each in the Company (the “New Shares”) to trading on AIM. The New Shares have been issued as consideration for the 20% equity stake in M&C Saatchi Mobile Ltd. Admission of the New Shares is expected to become effective on 6 May 2014.
The secondary sale confirms the success of the Inside Mobile acquisition by M&C Saatchi, which has seen the profits from the business rise 10-fold over the period since the original sale of 60% of the equity in the innovative mobile advertising agency. Since the acquisition, M&C Saatchi Mobile has created offices in Cape Town, Johannesburg, Los Angeles, New York, San Francisco, Singapore and Sydney.
Commenting on the transaction, Rupert Ashe, CEO of D5 Capital, said:
“M&C Saatchi Mobile is a great success story and a role model for any aspiring marketing services entrepreneur. Both buyer and seller haveworked together to take the talent of a small agency and make it global, driving up revenues, profits and client reach. It is a template for collaborative deals.”
For further information:
Rupert Ashe, CEO, D5 Capital
M: +44 7775 781803