Wednesday August 12,2015 : NETPLAY TV ACQUIRES ONLINE MARKETING FIRM
Expects to leverage marketing synergies as well as organic expansion.
NetPlay TV has acquired online marketing company Otherside Inc for GBP 3.2 million saying the deal ticks all its strategy boxes allowing for both organic and M&A expansion.
Otherside specialises in online marketing, display media and affiliation, underpinned by its proprietary online marketing platform across a range of sectors.
The marketing firm generated revenues of GBP 2.6 million, Adjusted EBITDA* of GBP 0.6 million and profit before tax of GBP 0.4 million during its financial year ended May 31, 2015.
NetPlay will pay an initial consideration of GBP 2.7 million in cash and the remaining GBP 0.5 million over 12 months subject to Otherside completing certain deliverables and the continued employment of identified key individuals.
“We look forward to integrating this specialist team into our operations and capitalising on the numerous commercial and margin-enhancing opportunities presented by the acquisition,” commented Bjarke Larsen, chief executive officer of NetPlay TV.