Investcorp acquires communications agency Investis Digital
Investis Digital’s management team also acquired 'a meaningful stake' in the company alongside Investcorp
Investcorp, the Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, acquired communications agency Investis Digital for an undisclosed amount from ECI Partners and a group of minority investors.
The deal is "indicative of the significant market opportunity associated with digital communications" as companies become more aware of using such specialised services for their stakeholder communication, Investcorp said in a statement on Tuesday.
"We believe that the company is well-positioned for growth as the need for full-service digital communication providers continue to increase especially because of the pandemic," Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth, said.
The public relations industry is expected to grow at a compound annual growth rate of 9.9 per cent to reach $93 billion by 2022, up from $63.8bn in 2018, according to Statista.
The London-based Investis Digital has nine offices in the US, UK, EU and India and has built relationships with brands such as Ascential, Anglo American, Fruit of the Loom, Rolls-Royce and Vodafone.
The acquisition complements Investcorp's other investments in companies such as ticketing services provider Vivaticket; Cambio, a Nordic provider of eHealth solutions; ABAX, one of Europe's largest telematics solutions providers; and cybersecurity company Securelink.
Investis Digital’s management team also acquired "a meaningful stake" in the company alongside Investcorp and will continue to remain fully involved, the statement added.
Investcorp, which reported a 33 per cent jump in first-half net profit in February, has expanded its portfolio following the onset of the pandemic. The company has increased its investments in technology and healthcare and diversified the geographies it invests in.
Published: March 30, 2021 03:22 PM