Jacaranda is a video and film production specialist, creating, managing and measuring the effectiveness of video content for global brands. It is based in London with a team of six people.
Public Creative creates and drives brand awareness with digital media using web and mobile applications to build loyalty and encourage customer advocacy. It is based in London with a team of eight people.
Terms of the Acquisitions
Jacaranda – Communisis has acquired Jacaranda for an enterprise value (on a cash free, debt free basis) of £1.5m plus surplus cash, which is estimated to be minimal. The consideration will be made as a cash payment of £0.9m and through the issue of 913,242 new ordinary shares in Communisis to the value of £0.6m. Further consideration may be payable annually in cash up to an aggregate amount of £0.5m dependent on the gross profit generated in the three years after the acquisition.
For the financial year ended 28 February 2013, Jacaranda generated adjusted EBITDA of £0.39m on turnover of £1.6m.
Public Creative – Communisis has acquired Public Creative for an enterprise value (on a cash free, debt free basis) of £0.35m in cash plus surplus cash, estimated at £0.04m.
For the financial year ended 30 April 2013, Public Creative generated adjusted EBITDA (on a normalised basis before non-recurring items) of £0.05m on turnover from continuing activities of £0.6m.
Commenting on the Acquisitions Andy Blundell, Communisis Chief Executive, said:
“Jacaranda and Public Creative bring important new skills to Communisis, in line with our strategy, as the Group continues to build its integrated service proposition. There is growing demand from clients for engaging content, especially for video and film across all digital channels, and these Acquisitions complement and enhance our existing capabilities.
We are delighted that these talented and committed teams have decided to join Communisis and look forward to working with them to offer our clients a broader range of creative services.”
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