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(Sharecast News) - Social media marketing firm Brave Bison said on Friday that it has agreed to acquire Greenlight Digital and Greenlight Commerce as part of a deal worth £6.8m.
Brave Bison will fund the "transformational" purchase of Greenlight, a digital advertising and technology company, by way of a placing of 455.55m new ordinary shares at a price of 1.35p each.
The AIM-listed firm anticipates that the addition of Greenlight to the group will be "significantly earnings accretive in the current year and beyond".
In 2020, Greenlight generated revenues of roughly £14.3m and adjusted underlying earnings of around £800,000, more than doubling the group's revenues on a pro-forma basis.
Chairman Oliver Green said: "We are building a media group for the new era: a single business that combines our own media network with digital and social marketing services, providing clients with access to both eyeballs and execution.
"This acquisition represents a significant step towards realising our vision and we are delighted to welcome the Greenlight team into the group"
As of 0945 BST, Brave Bison shares were up 4.35% at 1.80p.
11 May 2021 17:50
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