16 May 2013 – acquisition
The company has announced the acquisition of Branded3 Search Ltd, an agency focused on search engine optimisation and digital marketing. This acquisition continues St Ives’ strategy of creating a complementary range of digital and marketing services which will enable more services to be offered to existing and new clients. Branded3 was established in 2003 and employs approximately 50 staff, with offices in central London and Leeds. The cost of £10.7m, on a cash and debt free basis, will be funded through approximately £8.6m in cash plus the issue of around 1.4 million new shares in St Ives. There is room for the shares to continue their push upwards. BUY.