Fetch sold to media and digital giant Dentsu Aegis Network for £30m
Young Gun James Connelly marks successful exit with acquisition
Startups 100-listed mobile advertising agency Fetch today announced its acquisition by global media giant Dentsu Aegis Network, in a deal estimated at £30m.
Founded in 2009, Fetch has grown to become a leader in the mobile advertising market, with 96 employees, £30m turnover, and clients in over 90 countries including Sony Music, Hotels.com and William Hill.
The deal, which will see Fetch retain its brand identity and work with Dentsu Aegis’ other media businesses, marks a successful exit for Class of 2011 Young Gun James Connelly and co-founder Declan Reddington’s company.
Fetch CEO Connelly recently shared his plans for the business in Startups’ The Entrepreneur column, in which he expressed hope that Fetch would be “on the tip of everyone’s tongue in the marketing world globally”.
Connelly will continue in his current management role following the deal, reporting to Dentsu Aegis’s CEO for Northern Europe, Robert Horler.
Headquartered in London, the Dentsu Aegis Network is one of the world’s largest media and digital marketing groups, with turnovers in excess of £1bn and 23,000 staff across 110 countries.
Fetch is expected to use Dentsu Aegis’ connections and influence to quickly scale its own offering, supported by its existing management team.
James Connelly, co-founder and CEO of Fetch, said: “This is a logical next step for Fetch as we look to deliver our ambitious growth plans and scale our business globally. We are particularly pleased to be able to do that as part of Dentsu Aegis Network.
“Dentsu Aegis Network has a proven track record of growing digital businesses and a clear appreciation of the increasing importance of mobile in the media landscape. We are very excited about the opportunity to partner with Dentsu Aegis Network to deliver world-class mobile capabilities on behalf of an increasing number of mobile-focused clients,”
Robert Horler, chief executive officer of Dentsu Aegis Northern Europe, added: “With consumers increasingly engaging with brands through mobile devices, mobile media has become a critical part of the communication ecosystem and a key driver for business outcomes.
“Growing our digital profile across all capabilities is one of our five strategic priorities and this deal clearly recognises the potential we see in both Fetch and the wider mobile market.”