Digital agency plans fundraising for Australian acquisition

Rob Shaw, CEO of Jaywing

Digital agency Jaywing has announced plans to raise around £1.3m through a share placing to fund the acquisition of an agency in Australia.

The Sheffield-based company has agreed to buy Frank Digital, a digital marketing agency based in Sydney.

Jaywing says its operations in Sydney have continually expanded since its acquisition of search agency Digital Massive in 2016, which now operates under the Jaywing brand.

It said the strategic acquisition of Frank Digital serves to meet customer demand and further consolidate its position in the growing Australian market.

Jaywing CEO Rob Shaw said: “Our acquisition of Digital Massive in 2016 has performed well, with growth in Australia outstripping that of the UK. By creating a larger agency in Australia that is consistent with our international growth strategy, we will be able to take further advantage of a growing market and consolidate our position as an agency with a reputation for excellence. Matt and his team are a great cultural fit, with an existing relationship between them and our existing operation across a number of clients.”

Frank Digital specialises in digital marketing, websites and mobile applications. It provides services to a range of companies including global investment manager AMP Capital, major hospitality firm Merivale, and multi-platform publisher Bauer Media.

It was founded in 2009 and its current director, Matt Barbelli will remain employed in the business going forward.

For the 12 months ended June 2017, Frank Digital generated revenue and EBITDA of of AU$2.18m (£1.22m) and AU$379,000 (£213,000) respectively.

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