Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Be Heard Group raises £6.2mln as it buys London based creative agency, The Corner

"Be Heard's fifth acquisition is an important step forward," said Peter Scott, executive chairman
Be Heard Group raises £6.2mln as it buys London based creative agency, The Corner
The company’s ‘buy and build’ strategy is still bearing fruit

Digital marketing services group Be Heard Group PLC (LON:BHRD) has raised £6.2mln to help fund the acquisition of London based creative agency The Corner Communications (London) Ltd.

The group issued 78mln shares at 2.8p to raise £2.2 million gross in a placing and £4mln via issuing convertible loan notes.

READ: London taxi firm Addison Lee jumps in with Be Heard

"Be Heard's fifth acquisition is an important step forward. We are building a digital marketing services group for the connected world - to help brands and marketers meet today's challenges across the customer journey," Peter Scott, the executive chairman, told investors on Friday.

The initial consideration for the acquisition is £7.95mln with a further maximum deferred earn-out consideration payable of up to £4.05mln, making a maximum of £12mln.

The Corner Communications is an award winning agency, with a focus on brand and creative strategy, communication planning, digital design and social marketing. Notably, 70% of its net revenue is retained or contracted.

It has strong client relationships across the charity, entertainment, FMCG, retail sports and travel sectors.

Be Heard says it remains confident in the firm's full year results, underpinned by excellent new business performance in the first half continuing into the second.

READ: Be Heard Group joining the dots

Across the group, 36 new clients have been won since the beginning of year, including Addison Lee, GSK, MasterCard, Pittsburgh Paint Group and Pret A Manger, supporting the group's business strategy.

In September, the firm said it was on course to hit full-year targets after a strong start to the year.

The top-line growth was eye-popping, albeit pepped up considerably by some shrewd acquisitions.

Net revenue for the group rose to £8.3mln from £3.3mln in the first half of the previous year, while billings rose to £16.0mln from £14.7mln.

The company’s ‘buy and build’ strategy is bearing fruit, with the acquired units small enough to be agile and responsive to clients’ needs, while the opportunities for those units to work together means the group can offer a broad spectrum of services.

Be Heard shares nudged 0.17% higher in early deals on Friday to 2.88p.

View full BHRD profile View Profile

Be Heard Group Timeline

Big Picture
September 11 2017

Related Articles

pioneering_tech_-__smart_burner_-_woman_hands_fire.png
May 17 2017
In 2016, Pioneering's market capitalization increased by 1,170% and its share price appreciated by 725%.
shutterstock_302650592_58dc0a99d5fca.jpg
March 29 2017
This week the firm has bolstered its coffers to the tune of over $20mln via a now closed bought deal financing.
bluechiip-andrew-mclelland-presenting-Syd-Mar-2017.png
March 16 2017
Andrew McLellan discussed with investors wiresless tracking technology.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use