Brave Bison Acquires Engage in £10.6m Deal

Brave Bison Group plc, a digital advertising and technology company, has successfully acquired Engage, a sports marketing business, in a deal valued at £10.6 million. Engage, established by Gregg Oldfield in 2012 through a management buyout from Endemol Sport, boasts a significant client list including sports giants such as Formula 1, the International Cricket Council, Real Madrid, and New Zealand Rugby. The acquisition consists of an enterprise value of £2.1 million, an equity consideration of £2 million, and contingent consideration up to £6.5 million, dependent on performance over the coming three years. The strategic acquisition is set to combine Engage with Brave Bison's existing media network, creating an expansive sports and entertainment division projected to achieve a turnover of £16 million. Brave Bison aims to capitalize on Engage's expertise at a time when sports federations seek to maximize IP and enhance fan engagement using digital content strategies. Engage is expected to generate a turnover of £6.9 million with a small EBITDA loss of £300,000 in 2024. However, Brave Bison anticipates the acquisition will be earnings accretive after a restructuring and integration phase. The acquisition, backed by Brave Bison's cash resources, is expected to finalize in early January 2025.