Alkemy SpA, a leading company in the innovation of the business model for large and medium-sized companies and listed on the alternative Italian stock market since December 5, 2017, for the acquisition of a 51% stake in the share capital of Ontwice Interactive Services SL. The completion of the acquisition of the remaining 49% will take place within four years.
Ontwice and Contversion pass into the hands of Alkemy
Ontwice Interactive Services SL, based in Madrid and founded in 2006 by 4 partners, David Bravo, Manuel Mercader, Ignacio Tortosa and Luis Vegas, is one of the most important digital agencies in Spain, also present in Mexico. Among the brands he has worked for are eBay, Microsoft, Rolex, DIA Group, EuropeAssistance, Mahon, Hawkers and Mapfre, just to name a few.
Ontwice Interactive Services SL operates through:
- Ontwice – communication agency bringing big brands closer to people through the integration of content, experience, technology and data interpretation
- Conversion – agency focused on achieving results that improve brands through the combination of advanced technology, data analysis and business intelligence.
Both marks will remain after the operation.
The goal: the international expansion of Alkemy
As explained louis vegasfounding partner of Ontwice, to Marketing4eCommerce: “We are very happy. we were carrying 3 years preparing an operation like this and 8 months negotiating with Alkemy: the negotiations have developed very well: there is some exchange of shares from its parent company and there are no duplications of markets, so the whole team will undoubtedly remain.
We are in 23 million turnover per year. We are a medium-large independent agency, but neither small… nor large. And at this point it is difficult to compete against the big ones. Four years ago we had this reflection: either you take a leap, or it is difficult to compete. And with Alkemy we have found a very good fit: they have a DNA very similar to ours, they invoice around 70 million euros, their founders are entrepreneurs, they have been listed on the Milan Alternative Stock Exchange for a year and they are in the process of expansion
Alkemy is currently present in Italy and Serbia. With Ontwice it gains presence in Spain and Mexico. In the plans is to invest in technology and grow more in Latam, not only in Mexico.
For his part, Duccio Vitali, CEO of Alkemy SpA . explained:
“The acquisition of Ontwice Interactive Services SL will consolidate Alkemy’s presence in Spain, where our subsidiary Alkemy Iberia, led by CEO Ferdinando Meo, has initially focused on advisory activities.
The integration of Alkemy’s and Ontwice Interactive Services SL technologies and the development of their activities will allow us to offer Spanish clients the same value chain that we have successfully developed and tested in Italy. At the same time, thanks to the Company’s presence in Mexico, this acquisition will set the stage for Alkemy’s development in Latin America.
Paul FontanaDirector of International Business at Alkemy, will lead the local development teams in Spain and Mexico «.
With a turnover of around €20 million in 2017 and an EBITDA of around €1.6 million, the total value of the transaction (EquityValue) It is estimated at around 11 million euros. The initial 51% stake will be purchased on a 7x 2017 Adjusted Ebitda1 basis and payment will be made partly in cash and partly in Alkemy shares using its own treasury stock, upon approval of the Purchase.
“The acquisition of Ontwice Interactive Services SL represents an additional and more significant use of the capital that Alkemy raised through its listing on the AIM market, and responds to Alkemy’s external growth strategy.
Although our recent acquisition of the Italian company Nunatac had the objective of integrating its experience in the areas of Big Data and Data Analysis, the acquisition of Ontwice Interactive Services SL consolidates our geographical area
presence in Spain and paves the way for a new development in Latin America.
This acquisition allows the Group’s commercial team to be enriched with professionals in Spain and Mexico «commented Alessandro Mattiacci, President and Head of Corporate Development at Alkemy SpA.
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