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Be Heard Makes Second Acquisition
UK-based digital marketing group Be Heard has conditionally agreed to acquire design and UX agency MMT Ltd for an initial consideration of £5.1m, plus a further £15.4m subject to performance up to 2019.
The initial sum is to be paid 65% in cash and 35% in shares, and the deal is subject to various conditions and approvals. Be Heard acquired media buying, SEO and analytics firm Agenda21 in November 2015, and says it aims to develop 'a next-generation digital marketing group at the intersection of marketing, technology and e-commerce'.
MMT Digital was founded in 1999, employs 63 people across sites in London and the East Midlands town of Uppingham, and user-focused web sites for clients in a wide range of sectors. Underlying PBIT in the year to March 2015 was £1.1 million.
Peter Scott, Executive Chairman at Be Heard, said MMT's skills and capabilities would become an integral part of his firm's client offering. Ben Rudman, co-founder and CEO of MMT Digital, commented: 'Along with my co-founder, James Cannings, we are incredibly proud of the success that the team has had since 1999 and the work that we've done for our clients... Today marks the next step in our evolution'.
Web site: www.beheardgroup.com .
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