STOCKHOLM--(BUSINESS WIRE)--THE MARKETING GROUP PLC (“the Group”), the world’s leading digital marketing and advertising agglomeration, announces that its US multi-media marketing and design subsidiary, Wilkin Marketing, based in Burlington, KY, has completed the tactical acquisition of San Francisco, CA, based DAE Advertising, Inc.
The acquisition adds a range of advertising capabilities to Wilkin Marketing’s service offering and enables it to access the large and growing market for advertising services in California. The deal marks Wilkin Marketing’s first tactical acquisition and continues the Group’s strategy of adding mature, profitable, debt-free and well-managed private businesses that strengthen its positions in key markets.
The transaction was completed at a strike price of €3.69 per share (based on a 10-day volume weighted average price). This requires the creation of 1,560,325 new ordinary shares, 75% of which are subject to a 360-day lockup period. The total number of Ordinary shares issued by The Marketing Group will increase from 34,185,911 to 35,746,236.
Commenting on the acquisition Rusty Donohoo, CEO and founder of Wilkin Marketing said: “The acquisition of DAE Advertising adds valuable advertising services to our offering and brings an impressive list of new clients to the company. Importantly it also broadens our reach into the large Californian market and increases the overall profitability of The Marketing Group.”
DAE Advertising, Inc. provides a range of advertising and marketing services including strategic planning, creative development, media planning, online marketing, website development and event management services. Clients include leading brands such as Cathy Pacific Airways, Charles Schwab & Co., Comcast, Southwest Airlines and Wells Fargo.
Jeremy Harbour, Executive Chairman of The Marketing Group added: “This acquisition demonstrates one of the clear benefits to our subsidiaries of being part of The Marketing Group, the ability to use our shares to make tactical acquisitions that help to create a more effective and cohesive client offering. The deal also demonstrates our continuing ability to identify and rapidly execute acquisitions at Group and subsidiary level, consistent with our acquisition strategy and which help to build value for our shareholders.”
|Location||San Francisco, US|
|Key Clients||Wells Fargo Bank, Cathay Pacific Airways, Southwest Airlines, El Camino Hospital, American Association of Retired Persons, Recology, PAAWBAC, Asian Art Museum, Hong Kong Association of NCA.|
|Key Synergies||Strategic consulting, online and direct marketing, website build and management, promotional management, event management services.|
Vicky Wong President and CEO Vicky Wong is the President and CEO of DAE Advertising. She leads new business development, strategic planning and the overall operations of agency. Vicky has more than 20 years of experience in advertising account management and consumer marketing, including a stint in Ogilvy & Mather Hong Kong where she was in charge of major international accounts such as American Express and Philips.
This information is information that The Marketing Group plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:30am CET on 21st of November 2016.
The Marketing Group in brief
The Marketing Group plc is a global marketing and advertising company that brings together a portfolio of successful and independent digital marketing businesses, each offering unique and complementary products and services. Together these businesses make up a global network offering a full suite of digital marketing and advertising services. The consolidated group supports its subsidiaries with management and coordinating activities as well as a common operating platform. The Marketing Group was incorporated in May 2015 and listed on Nasdaq First North Stockholm on 8 June 2016. Mangold Fondkommission AB, +46 8-5030 15 50, is the Company’s Certified Adviser and liquidity provider.
For more information, please visit the Company’s website www.marketinggroupplc.com.
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