Mergers and Acquistions News
Categories: Media & Information Services
January 12th 2009, 16:03PM
Investment vehicle West End Ventures has completed the reverse takeover of digital media firm dotMailer.
Under the terms of the deal, West End acquired the entire issued share capital of dotMailer in exchange for 1 billion of its own stock.
The transaction also sees dotMailer enter the PLUS exchange, of which West End was already a member.
Commenting on the move, Peter Simmonds, managing director of dotMailer, said; "During 2008, we have successfully launched new products, diversified the business into other niche digital marketing products and services and accelerated our customer growth."
Admission to PLUS rounds off what was a year of positive developments for the company, he added.
dotMailer will now focus on expanding further over the course of 2009, Mr Simmonds stated.
Last week, Scottish firm AVC Media Enterprises announced it has acquired Hotchilli Design for an undisclosed sum.
The move creates a company with an expected turnover of £2 million for the year ahead.
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