Double acquisition secured by telecommunications group
A new Birmingham-based business has formed following the double acquisition of a payments and consumer engagement enterprise.
Oxygen 8 Communications and Viveri Group has acquired international payments firm Dynamic Mobile Billing and Spoke Interactive, to form a group that will allow organisations to optimise audience monetisation and engagement.
The new business Viveri will benefit from Dynamic Mobile Billing’s ability to process 500 million transactions annually across various territories, as well as Spoke’s engagement collaboration with major charity and media brands.
This will increase the reach of both the acquired companies and their clientele which includes major brands like DEC, BBC, Reach Plc, and notable events such as the Eurovision Song Contest and ITV’s Soccer Aid for UNICEF.
Chairman at Oxygen8, Gary Corbett, said: “Becoming part of the Viveri Group significantly broadens our service offerings, enabling us to implement comprehensive engagement and payment solutions that foster improved connections with our customers. Wilkes played a pivotal role in facilitating this successful transaction and it was good working with them once again on this deal.”
“During the deal, we were faced with the potential pitfalls of a double acquisition, involving intricate documentation negotiations that could disproportionately escalate costs and time for a relatively modest transaction”.
Wilkes, a Birmingham-based law firm, advised Oxygen8 and Viveri Group. The Team of Wilkes was led by Partner, Rick Smyth, with support from Christie Nelson, Solicitor, and Matt Workman, Paralegal. Tax advisory firm Jerroms Miller also advised on both sides of the deal.
Rick Smyth, Partner in Wilkes’ corporate team, said: “We are thrilled to have the opportunity to collaborate with both Gary and Jerroms Miller once again and offer our support in this significant double acquisition. We were well-positioned to contribute valuable insights and expertise within this deal, being our fourth deal in this sector this year.”
“The already evident success of Viveri serves as a testament to the tangible benefits that result from effective collaboration. This deal not only emphasises our capability to navigate complex transactions but also underscores our ability to service our internationally focused clients”.