St Ives has announced the acquisition of a majority stake in The App Business (TAB) in a deal that could be worth around £50m as the marketing services group bolsters its digital credentials.
The initial agreement will see the acquisition of 82.16 per cent of the mobile agency by St Ives for an initial £22.3m, of which £16.7m will be paid in cash and the rest through an issue of around 2.6 million shares in the group to vendors.
The intention is to purchase the remaining 17.84 per cent of the business through a call option exercised by St Ives Read full story ›
Source: The Drum
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