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St Ives PLC Acquires Branded3 Search Ltd

Thursday, 16 May 2013 02:00am EDT 

St Ives PLC announced that it has acquired Branded3 Search Ltd (Branded3), a leading search engine optimization and digital marketing agency. The acquisition of Branded3 is a continuation of St Ives' strategy to create a complementary range of digital and marketing services that will enable the Group to add further value to existing and new clients. Established in 2003, Branded3 has offices in central London and Leeds. It has a B2C and B2B client base across a range of vertical sectors that includes entertainment, finance, travel and other sectors. The Company has agreed to acquire all of the issued share capital of Branded3, on a cash and debt free basis, for £10.7million, to be satisfied by approximately £ 8.6 million in cash and approximately 1.4 million of newly issued St Ives PLC’s shares. Further consideration of up to £ 14.3 million may be payable (to be satisfied approximately 75% in cash and 25% in shares) dependent on incremental financial performance for the years ending January 31, 2014, 2015 and 2016. 

Company Quote

4.5 +2.47%
19 Dec 2014