Last checked at 28 Apr 2022 07:02
28 April 2022
Brave Bison Group plc
("Brave Bison" or the "Company")
Acquisition of Best Response Media
Brave Bison, the social and digital media company, is pleased to announce the acquisition of Best Response Media Limited ("Best Response Media" or "BRM"), a leading digital commerce company.
Best Response Media is a specialist ecommerce and mobile development company focused exclusively on the Adobe Commerce platform. BRM was acquired for a total purchase price of approximately £1.0m and an enterprise value of £0.35m. The acquisition was funded using Brave Bison's cash resources and is expected to be earnings enhancing in the current financial year.
In the year ended 31 July 2021, Best Response Media generated revenues of £1.31m and a profit before tax of £0.31m. Unaudited net assets as at 31 July 2021 were £1.1m.
Best Response Media was founded in 2009 and works with a number of Tier 1 customers, including NatWest and Wasoko, the leading African ecommerce marketplace. The business is headquartered in London and utilises a global resourcing model with engineers and product managers located across Europe and North Africa.
BRM will be fully integrated into Brave Bison's existing operations and will increase the Company's ecommerce capabilities to include all leading technology platforms, namely SAP, Salesforce, BigCommerce and now, Adobe Commerce.
Oliver Green, Executive Chairman, commented:
"We are delighted to announce this strategic, earnings-accretive, bolt-on acquisition. Adobe Commerce is one of the most popular ecommerce platforms in the world and this addition makes Brave Bison's commerce offering one of the broadest in the market. We look forward to working with the Best Response Media team."
For further information please contact:
Brave Bison Group plc
Oliver Green, Executive Chairman via Cenkos
Theo Green, Chief Growth Officer
Philippa Norridge, Chief Financial Officer
Cenkos Securities plc Tel: +44 (0)20 7397 8900
Nominated Adviser & Broker
Nicholas Wells
Ben Jeynes
This announcement contains inside information