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Investing.com -- Brave Bison Group on Monday confirmed it submitted a non-binding proposal to acquire M+C Saatchi Performance for an enterprise value of £50 million.
The next-generation marketing and technology partner for global brands made the announcement Monday in response to recent press speculation about the potential deal.
Brave Bison plans to combine M+C Saatchi Performance (MCSP) with its existing performance marketing operations to create what it describes as "a scaled digital media challenger to the global marketing networks."
The combined entity would become one of the largest independent performance marketing companies outside the US, with strong presence in UK and APAC markets.
MCSP is expected to contribute a minimum of £8 million in Adjusted EBITDA, which would increase Brave Bison’s pro-forma Adjusted EBITDA by over 80% to £17 million. The acquisition is anticipated to be "materially accretive" to underlying Group earnings per share.
MCSP is a global performance marketing business headquartered in Singapore with approximately 410 staff across APAC, MENA, US and UK regions. Founded in 2006 by James Hilton, the company specializes in growth marketing for digital native brands and works with major clients including Grab, Amazon, Canva, Gopuff and Meta.
The company has been led by CEO Kabeer Chaudhary since 2021 and is expected to report two consecutive years of like-for-like revenue growth in FY25.
To fund the acquisition, Brave Bison plans to secure a new Group bank facility of up to £25 million, for which it has received a letter of support from a UK lender, and conduct a placing of new ordinary shares to existing and new investors.
The company noted there is no certainty the acquisition will conclude or the terms on which it might proceed, with further announcements to follow "as appropriate."
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