Member Article

Be Heard plotting £1.7m outlay to acquire major stake in big data marketing firm

Digital marketing services group Be Heard Group has announced it is planning to acquire a 75% stake in London-based Freemavens, the marketing analytics and innovation consultancy.

In a statement to the London Stock Exchange this morning, the Soho-headquartered marketing group said it intends to acquire the stake in the business following a cash placing of new shares to raise £2.1m.

It said the admission of new shares was expected to take place at the open tomorrow for new and existing investors.

Founded in 2012 by Andrej Moyseowicz and Christopher Palengat, the marketing analytics and innovation consultancy has worked with the likes of Unilever, Barclays and Channel 4, utilising big data to glean insight into business operations and potential improvements.

Commenting on the deal, Peter Scott, Executive Chairman of Be Heard said: “The Freemavens team will give Be Heard industry leading analytics capability, and once bedded into our Group will augment and enhance the work we do for clients.

“Intelligent use of data underpins all decision making; our intention is to develop the analytics capability at Be Heard as a central function and resource for our clients. Bringing the exceptional Freemavens team into the fold is, I believe, a bold first step.”

Christopher Palengat, Co-Founder of Freemavens added: “Be Heard offers the perfect opportunity to take what we have built in analytics and insight to the next level.

“The value they place on analytics, and the quality of the existing partner companies present enormous new opportunities for Freemavens. We can’t wait to get started.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →