It’s emerged this morning that Brave Bison Group has entered into an agreement to acquire Social Chain for £7.7m.
Social Chain was co-founded by Dominic McGregor and Dragon’s Den entrepreneur Steven Bartlett, and employs 122 people in Manchester, New York and London.
London-based Brave Bison says the deal would increase its revenues from social media advertising “seven-fold” to £15m. It would also increase its expected revenues for the year to more than £40m.
The acquisition would see Brave Bison Social & Influencer and Social Chain merge, with Social Chain CEO Pete Metcalfe taking responsibility for the enlarged social media advertising practice.
Members of the senior management team will become option holders in Brave Bison, with up to 15m share options issued over the next 3 years, depending on performance.
“We’ve long admired Social Chain, which we believe is among the world’s best regarded social media and influencer marketing brands, and we’re excited by the highly relevant clients it brings into our business,” explained Oliver Green , Chairman of Brave Bison.
“Social Chain has huge potential for growth within Brave Bison, taking the momentum Pete and the team have built up using Steven Bartlett’s platform. We’re delighted to be taking this big step forward as we continue to build a media, marketing and technology company for the new era.”
