St Ives acquires digital marketing firm Amaze

Shares in marketing firm St Ives rose above five per cent after the company announced the acquisition of Amaze from Hasgrove.

Shares in marketing firm St Ives rose above five per cent after the company announced the acquisition of Amaze from Hasgrove.

Amaze, a digital marketing agency based in London, has about 200 employees and has clients across a range of sectors including automotive and retail.

St Ives said the acquisition would strengthen its offering to new and existing clients. The firm has agreed to purchase all of the issued share capital of Amaze, on a cash and debt free basis, for £15.3m in cash.

A further consideration of up to £9.0m may be payable depending on incremental financial performance this year.

The acquisition is subject to the approval of Hasgrove's shareholders.

"The acquisition of Amaze creates the foundation for an additional major pillar of our marketing services strategy," said St Ives Chief Executive officer Patrick Martell.

"We have strong positions in data marketing, research and consultancy services, field marketing, and now digital solutions.

"Further acquisitions will be focussed on building out these four pillars to further strengthen our integrated marketing services offering."

RD

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
The after effects of the gas-price shock
Economy

The after effects of the gas-price shock

In the wake of the recent spike in the natural gas price, we can expect slower growth, an industrial recession – and a newly assertive Russia, says Ma…
17 Oct 2021