Centaur Media Plc (LSE: CAU), the multi-platform business information, insight and events group, is pleased to announce that it has agreed to acquire the business and assets of Oystercatchers LLP (“Oystercatchers”). Oystercatchers will build on Centaur’s Econsultancy and other marketing assets to provide an international leading consultancy in the marketing sector.
Oystercatchers, www.theoystercatchers.com, founded by Suki Thompson and Peter Cowie in 2008, is a consultancy helping brands to accelerate their marketing performance. Centaur’s Econsultancy business www.econsultancy.com enables marketers and ecommerce professionals to succeed online with insight and data tools. The two businesses will together provide aligned services to marketing clients that improve marketing capability and performance. Limited client overlap means these two businesses offer opportunities to cross-sell services to a wider client base as well as a broader geography. Centaur’s US platform will be particularly relevant to Oystercatchers’ existing and future clients.
Oystercatchers’ senior management team of Suki Thompson, Peter Cowie, Angus Crowther, Richard Robinson and Vladimir Komanicky will remain with the business and Suki Thompson will join the Centaur Executive Committee from 1 October 2016. Oystercatchers’ client and agency relationships will be a valuable asset for the Centaur Group.
Centaur is paying up to £3.35million for Oystercatchers of which £2.2million is payable on completion. Completion is targeted for 1 October 2016 following consultation with Oystercatchers employees. The deferred consideration is contingent upon certain achievements including Oystercatchers’ EBITDA for the 12 month period ending on 31 March 2017. All consideration is payable 75% in cash, 25% in Centaur shares with a two-year lock-in period on the shares.