Jaywing plc acquiring Frank Digital for £1.3m is a great Australian fit

Jaywing plc (LON:JWNG), a UK-based agency specialising in the application of data science, this morning announced that it has entered into an agreement to acquire Frank Digital Pty Ltd, a digital marketing agency based in Sydney, Australia. Furthermore, the Company announces a conditional Placing, subject to Shareholder approval, to raise up to GBP1.3 million to finance the initial consideration payable in respect of the Acquisition.

Background to and reasons for the Acquisition

Jaywing’s operations in Sydney have continually expanded since its acquisition of search agency Digital Massive in 2016, which now operates under the Jaywing brand. Total spend on digital advertising in Australia is expected to grow materially over the next few years, increasing by 29 per cent. from 2017 to 2021 (Source: www.eMarketer.com). Since it established itself in the region, Jaywing has experienced strong growth in Australia, alongside increasing demand from customers for a wider range of products and services. This strategic acquisition of Frank Digital serves to meet this customer demand and will further consolidate Jaywing’s position in the growing Australian market, delivering additional scale and augmenting its existing services with website and digital campaign expertise.

The improved offering, with a broader set of products and services, is supported by current client opportunities and allows Jaywing greater opportunity for cross-sales. In the UK, Jaywing has seen success in cross-selling its products and services. In July 2017, Jaywing announced that it had increased the proportion of clients taking more than one service line from 1 in 4 in the previous year, to 1 in 3 of its top 50 clients.

The Directors believe that by being part of Jaywing, Frank Digital can accelerate its growth by leveraging strategic and operational support from the UK.

Commenting on the deal, Jaywing plc 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.”

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