Jaywing to Sell Contact Centre Business

UK-based data science-led marcoms agency Jaywing has agreed to sell HSM, its non-core contact centre business, to Bidco, a firm backed by Acquiline Capital Partners which invests in financial services and technology. The cash deal is valued at £500k.

Jaywing, which also operates in Australia, offers brand strategy, creative, customer prediction, insight and artificial intelligence, PR and advertising services. Its HSM division recorded £6.03m of revenue and EBITDA of £136k, and a loss before tax of £30k for the year ended 31st March 2018.

Jaywing CEO Rob Shaw (pictured) describes the deal as 'an important non-core asset disposal, which will allow management to concentrate entirely on developing the core business and simplify the Jaywing offering'. He adds: I'd like to thank the staff at HSM for their professionalism and look forward to working with Bidco to help make their new venture a big success'.

Alongside the deal, Jaywing has reported gross profit of £18.2m in its half year results for the period ending 30th September 2018, up from £17.9m in 2017. However, adjusted EBITDA dipped to £1.33m from £1.45m the year before.

Web site: www.jaywing.com .