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Sivota Acquires Majority Stake in Digital Marketing Engagement Platform Apester.

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Vincent

MANews-(C)2009-2022

Special opportunities investment vehicle Sivota plc (LSE: SIV) has completed the acquisition of a majority stake in digital marketing engagement platform Apester Ltd, a, the company said.

Under the terms of the acquisition agreement, the company will receive Preferred Seed Shares in the capital of Apester for an aggregate price of USD 12m.

This reflects a pre-money valuation of Apester of USD 16m on a fully diluted basis.

The issue of the Preferred Seed Shares will provide the company with 57.5% of Apester's voting rights. The investment proceeds are to be used by Apester for its working capital requirements as well as for specific repayments of certain liabilities agreed by Sivota.

The cash consideration for the acquisition will be funded through a GBP 11.5m (gross) placing and direct subscription of 11.5m new ordinary shares of one pence each in the company from existing and new investors in Sivota.

Apester will be Sivota's first acquisition and is closely aligned with Sivota's strategic principles. Sivota is keen to...

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