S4 Capital, owned by former WPP CEO Sir Martin Sorrell, has expanded its global content arm MediaMonks' capabilities and coverage with the acquisition of Melbourne-based marketing transformation and customer experience company BizTech.
BizTech, founded in 2008, reports revenues of about $15 million and employs more than 90 people in Melbourne, Sydney, Toronto, Moscow and Astana. The company is also a gold partner in Adobe's Solution Partner Programme.
The merger between MediaMonks and BizTech sees the latter grow its marketing cloud offering and expand its geographic coverage, particularly in Australia and Canada.
BizTech CEO Michael Patishman says the merger offers "exciting opportunities" and a "broader service offering" for clients.
S4 Capital already operates in Australia, Canada and New Zealand through MightHive but will now be able to gain an integrated content and programmatic operation, as well as becoming a "global centre of expertise" in customer experience and Adobe capabilities.
"Bringing BizTech on board will represent many things for MediaMonks," MediaMonks CEO Victor Knaap says.
"We will be effectively marrying engineering, design, and content for a new era of creativity. But we’re not just broadening our client offer, we’re growing our network that will span from Mexico to Melbourne and welcome a brand new super crew of Adobe experts."
The sale price hasn't been revealed but it will be a combination of cash and shares. S4 Capital sasy the deal will be funded by current cash resources plus ordinary shares of S4 Capital on a 50/50 basis, with lock-up restrictions.
It is still subject to completion of the ongoing audit and documentation process and merger control.
"We are delighted with the proposed deal which will bring Michael, Tim, and the entire BizTech team to the S4Capital family," S4 Capital executive chairman Sir Martin Sorrell says.
"Their highly specialised Adobe expertise and close-knit client relationships make BizTech the perfect partner to accelerate our business in Australia and beyond."
This is the latest acquistion from S4 Capital's MediaMonks and MightyHive. In April, MediaMonks purchased food and liquids film studio Caramel Pictures, while MightyHive merged with ProgMedia, a Sao Paulo-based programmatic consultancy.
Late last year Sorrell and S4 continued their acquisition run, adding programmatic advertising group, MightyHive, to its ranks for US$150 million. In July 2018, he acquired Media Monks for €300 million.
Sorrell launched S4 Capital early last year after a public exit as CEO from WPP amid claims of personal misconduct and misuse of company assets. He denies he allegations.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.