Project Yellow

Paul Cheetham of Sedulo Corporate Finance is pleased to have advised Swedish listed company Oniva Online Group AB on the part disposal of its subsidiary Just Search Limited to Manchester based digital agency Digital Next.

In addition, the deal also included investment by the Nasdaq OMX First Northern listed company into Digital Next.

Paul and the team were instructed by Online Group in 2013 to find investments in the UK, and to search for an ideal partner for its existing UK investment, Just Search. After a lot of searching and negotiations it identified Digital Next as the perfect partner to take forward the UK operation.

The deal which included pulling together operations in Italy, Ireland, England, India and Australia took just 4 months to complete following the initial approach.

Paul Cheetham commented:

We have worked with Just Search since 2005 and Online Group since 2007. We have done various acquisitions and disposals in the international digital space, but in the current search climate this was a tricky one. However the fit between both businesses could not be better. Digital Next were strong in scalable SEO, web development and design. Just Search were strong in PPC, content writing and SEO consultancy – the two together is a truly integrated digital agency which can compete in the digital arena with anyone.

Justin Blackhurst, CEO at Digital Next said:

We are delighted to announce that we have acquired Just Search and recognise that this is a major step forwards in terms of our business. Now that we are equipped with further specialists, we can offer clients a service to compete with any top London-based agency.

Digital Next now boasts offices in UK, US, Australia, Ireland, India and Sweden with over 200 staff globally.

Paul was assisted from a legal perspective by Gareth Williams, partner of GHW Solicitors.

Sedulo is now engaged by Online Group to identify further acquisitions in the UK, particularly in the area of hosted services.

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