Brave Bison Group PLC has agreed to acquire influencer marketing group Social Chain in a deal worth up to £17.2mln.
It will pay an initial £7.7mln, partly funded through a £4.75mln vendor placing.
An additional contingent consideration of up to £9.5mln is payable over three years, based on stretch performance targets for EBITDA.
The acquisition is expected to be earnings accretive in the current financial year, investors were told.
Social Chain works with global brands such as Amazon, TikTok, KFC, and Apple Beats.
The acquisition is expected to increase Brave Bison (AIM:BBSN)'s revenue from social media advertising sevenfold to £15mln a year, with its total turnover expected to exceed £40mln for the financial year ending 2023.
Social Chain CEO, Pete Metcalfe, will take responsibility for the enlarged social media advertising practice.
The acquisition will bring access to new global customers and the US market, as well as increase Brave Bison's presence in Manchester, a key city for digital talent, Brave Bison said.
Chairman Oliver Green said: "We've long admired Social Chain, which we believe is among the world's best-regarded social media and influencer marketing brands, and we're excited by the highly relevant clients it brings into our business.
“Social Chain has huge potential for growth within Brave Bison, taking the momentum Pete and the team have built up using Steven Bartlett's platform.
“We're delighted to be taking this big step forward as we continue to build a media, marketing and technology company for the new era."