Local advisers central to £8.3m Tangibal deal
BIRMINGHAM-based advisers Cattaneo and Shakespeares have advised London headquartered Tangibal Group PLC on its acquisition of Infotech Digital Limited for shares and associated fund raising.
Tangibal is issuing £8.3m worth of shares to the vendors of Digital and raising £3m from a cash placing of shares.
Tangibal operates in the digital out of home (DOOH) media markets and provides digital advertising, marketing solutions and content to audiences for brands and advertisers.
Digital supplies and maintains interactive digital signage equipment and software solutions to the digital out of home industry in the UK, India and North America
Jonathan Hall, chairman of Tangibal, said: “We believe there is a good fit with our existing operations and Digital’s international coverage, together with the funds being raised from the placing, will allow Tangibal to expand its interactive screen networks globally.
“Through the acquisition Tangibal is putting itself in an excellent position to grow and deliver shareholder returns in the exciting and developing market of digital out of home media”
Cattaneo’s Charles Cattaneo said: “This is a transformational deal for Tangibal and we are delighted to have been advising the Tangibal board on the transaction.
“The acquisition of Digital brings significant critical mass and an international presence in India and North America and significant grow potential which is to be funded from the cash placing.”
Tangibal was advised by Charles Cattaneo and Ian Stanway of Cattaneo with Keith Spedding of Shakespeares providing legal advice.
