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08 April 2019

Charles Russell Speechlys advises Taptica International Ltd on recommended all-share acquisition of AIM listed RhythmOne plc

Charles Russell Speechlys has advised AIM listed global advertising technologies platform provider Taptica International Ltd on its recommended all share offer for AIM listed RhythymOne plc (also a global advertising technology company) by way of a court approved UK Scheme of Arrangement.

Under the terms of the offer, RhythmOne shareholders received 28 new Taptica shares for every 33 RhythmOne shares held (approximately £136 million), resulting in Taptica shareholders holding 50.1 per cent. and RhythmOne shareholders holding 49.9 per cent of the enlarged group respectively. The enlarged group had a market capital of £267 million, at the time when the offer was announced.

finnCap acted as financial adviser to Taptica. Whitman Howard and Pillsbury Winthrop Shaw Pittman acted for RhythymOne plc.

Commenting on the transaction, Tim Weller, Non-Executive Chairman of Taptica, said: "We've brought together two highly complementary businesses, creating one of the leading video advertising companies in the US, with significant scale across the Group and a comprehensive and highly competitive technology stack".

Corporate Partner Andrew Collins, who led on the deal, said: " we were delighted to advise on this strategic takeover, having acted for Taptica (then named Marimedia) on its IPO on AIM in May 2014. We have enjoyed supporting Taptica as it has grown and look forward to seeing the company continue to build on its success."

The Charles Russell Speechlys team, led by Andrew Collins, included partner Paul Arathoon and corporate associates Amelly Kok and Emily Dobson.

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