Mobile Embrace, the ASX-listed mobile marketing and payments group, has bought UK online performance marketing provider Marketing Punch.
Embrace is paying £2.14 million ($AU4.64 million) upfront plus the 4 million shares at 26 cents (about $AU1.04 million).
Marketing Punch’s 2016 forecast is for revenue of £3.7 million ($AU8.03 million). Punch’s team, led by the company’s founder and managing director Charles Haynes, will continue with the business.
The business has a proprietary opted-in database of over 5 million consumers and delivers more than 100,000 qualified leads to clients each month.
Mobile Embrace’s CEO, Chris Thorpe, says Marketing Punch is a strategically important acquisition.
“The growth opportunities that result from this transaction are highly compelling, and it is an important step in establishing MBE as an emerging global leader in digital performance marketing.” he says.
He says the 2016 year has started well and the company is on-track to deliver record first quarter performance.
Embrace posted a 71% rise in full year revenue to $33 million. Net profit for 2015 was up 22% to $3.05 million.
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