Ebiquity plc buys Swedish-based Media Path Network AB for £15.5 million
LONDON, UK: Ebiquity plc announced the proposed acquisition of Media Path Network AB, a Swedish-based multi-national media consultancy, for a consideration of £15.5 million.
In order to finance the MediaPath acquisition, to accelerate organic and inorganic growth of the enlarged business and to strengthen its balance sheet, the company intends to carry out sales of new ordinary shares of £15.0 million at a price of 53.0 pence per share.
The MediaPath acquisition follows the acquisition of Media Management LLC (MML), a US-focused media audit specialist.
MediaPath is a technology-driven multi-national media consultancy founded in Stockholm, Sweden in 2008 by Susanne Elias.
The MediaPath Group specialises in performance measurement, benchmarking and pitch management delivered through a proprietary technology platform. It operates through a globally distributed model and has 45 team members across 12 countries that operate remotely. The MediaPath Group has an international client list such as ABInBev, Disney, Heineken, KraftHeinz, Pandora, Sky, JPMorgan Chase & Co and McDonalds.
The founder, Susanne Elias has 24 years of experience operating in the media space and will join the Ebiquity executive leadership team as Chief Business Integration Officer on completion of the MediaPath Acquisition.
In the financial year ended 31 December 2021, the MediaPath Group generated revenue of £6.3 million with year-on-year growth of c.14% and improved operating profit of £1.8 million with operating profit margin of 29.1%7. As at 31 December 2021, the MediaPath Group had gross assets of £2.6 million7.
The Board of Ebiquity believes that there is a strong strategic and financial rationale for the MediaPath Acquisition. MediaPath’s blue-chip international client roster with long relationships will be additive to Ebiquity’s existing client base through focused access to MediaPath’s client base for Ebiquity Digital Media Solutions portfolio and complementary service offering focused on Media Management and Performance Service lines.
MediaPath’s experienced management team will join Ebiquity’s existing senior team sharing the vision of building an enlarged, global business and will together develop the integration plan for the business. The implementation of MediaPath’s proprietary technology platform will deliver economies of scale and greater efficiencies of delivery groupwide.
Nick Waters, Chief Executive Officer of Ebiquity, said: “This milestone is a great step for Ebiquity, and we are delighted to welcome Susanne and her team to the Ebiquity Group. MediaPath brings a team of experienced and highly skilled media specialists, complementary capabilities, an outstanding technology platform, and a roster of high quality blue chip international clients. This acquisition unlocks huge potential for our business, our clients, and our people. The combination of our two teams creates a formidable breadth and depth of media talent, with global reach and national market expertise.”
Susanne Elias, Founder of MediaPath, said: “I am really excited about the future prospects for our combined businesses. Using technology for innovation and delivery of our services to our clients has been a key driver for us and now combined with Ebiquity’s global reach, broad service offerings as well as a highly skilled team of media specialists creates stellar opportunities for our combined business, clients and teams all over the world.
I am delighted to be joining the Executive Leadership Team at Ebiquity and look forward to working with them to deliver a successful integration and realise the value opportunity.”
Ebiquity plc (LSE AIM: EBQ) is a world leader in media investment analysis. It harnesses the power of data to provide independent, fact-based advice, enabling brand owners to perfect media investment decisions and improve business outcomes. Ebiquity is able to provide independent, unbiased advice and solutions to brands because we have no commercial interest in any part of the media supply chain.
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