Further Expansion for Jaywing in Australia

UK-based data science firm Jaywing is acquiring the bulk of Sydney, Australia-based digital marketing agency Frank Digital for an initial $AUD 1.2m in cash.

Jaywing has also announced a conditional placing, to raise up to £1.3m, partly to finance the initial payment.

In 2016, Jaywing expanded to Australia, through the acquisition of search marketing agency Massive Group, which now operates under the Jaywing brand. In a statement, the firm said its latest acquisition will meet the growing customer demand for its services in Australia, while enabling it to offer a broader set of products and services.

Frank Digital specialises in digital marketing, web sites and mobile applications, and for the twelve months ended June 2017 had revenue and EBITDA of $AUD 2,184k and $AUD 379k respectively. Jaywing is acquiring 75% of Frank Digital's share capital for $AUD 1.2m in cash, and subject to achieving certain EBITDA targets, it will pay two further payments up to June 2020, with a maximum aggregate payment of $AUD 1.2m. On completion, Jaywing will have the option to buy the remaining 25% for up to $AUD 2.35m.

Following the acquisition, Frank's current director Matt Barbelli (pictured) will remain employed in the business and the firm's main Sydney team will relocate to the existing Jaywing business there. Commenting on the deal, Barbelli said: 'We've known the guys at Jaywing for many years and are delighted to be joining the team. With access to products such as those in Jaywing Intelligence, we'll be able to offer advanced tracking, data collation, analysis and artificial intelligence to our clients, giving both us and them real competitive advantage'.

Web sites: www.jaywing.com and www.frankdigital.com.au .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.