Brave Bison (AIM:BBSN) has unveiled a £10.6 million deal to buy sports marketing firm Engage Digital Partners.
Engage will help expand Brave Bison (AIM:BBSN)'s sports and entertainment division to generate £16 million in pro-forma turnover, the digital advertising company said on Monday.
“Engage boast an enviable client roster including Formula 1, ICC and Real Madrid, and deep expertise in sports media and digital content strategy,” Brave Bison chair Oliver Green said.
“This combination comes at a time when rights holders and sports federations are looking to maximise their IP, boost fan engagement and really drive commercial performance using a more data-driven approach.”
Brave Bison added the tie-up will see it partner with channels across football, cricket, motorsports, tennis, golf, e-sports and rugby.
The takeover at an initial enterprise value of £2.1 million, equity consideration of £2 million and performance-based payments of up to £6.5 million, will be funded by cash reserves and is due to be completed early next year.
Brave Bison also noted trading over the latter half of the year had met expectations, leaving it on course for £3.6 million in adjusted pre-tax earnings for 2024.
Brave Bison shares climbed 2% to 2.22p on Monday.