SunTzu BV joins Emakina GroupBrice Le Blévennec
BRUSSELS, APRIL 11, 2007 – Emakina Group announces today the acquisition of the Dutch agency SunTzu BV. This new acquisition allows Emakina Group to reinforce its interactive marketing expertise and expand on a European scale.
Based in Rotterdam, SunTzu BV is a 18-person agency reputed for its creative talent. Its customer portfolio includes the likes of Unilever, Logitech, Maxxium or MSN. In 2006, SunTzu BV, which has been profitable since its creation in 2002, realised business sales of around 2,000,000 euros.
“SunTzu will enable us to serve our customers even better and to expand beyond our borders,” explains Denis Steisel, CEO of Emakina Group. “We are already working for Dutch customers. Having an office in Rotterdam is an additional asset to serve them better. In addition, SunTzu has a strong corporate culture based on very solid teamwork. Its level of creativity and expertise, particularly in e-mail marketing and brand name web sites, won us over. We are equally delighted to pursue our collaboration with the CEO of SunTzu Holding BV, Geert Rietbergen, who has significant experience in running interactive agencies, in the Benelux as well as in other countries. SunTzu BV’s management will remain involved in the company, which guarantees stability for the future.
For SunTzu, becoming part of Emakina Group means a new beginning. “Emakina Group is a fabulous springboard for continuing our growth,” highlights Raymon de Kruijff, General Manager of SunTzu BV. Our team will benefit from Emakina’s full service positioning, capable of serving all of its client’s needs. Emakina also brings us its organisational structure from which our clients will certainly benefit.”
Emakina is thus pursuing its European market growth strategy in a way that is both prudent and pragmatic. After B. On The Net (Brussels) and Design is Dead (Antwerp), the Emakina Group is currently extending its active presence throughout Benelux.
From a financial perspective, the integration of SunTzu BV should increase Emakina Group’s overall margin. This acquisition should be create value and will be financed by capital resources, part of which will come in cash and the remainder in newly issued shares of Emakina Group based on SunTzu BV’s sales for the financial years 2007, 2008 and 2009. These terms appear to be particularly motivating for both parties.
Throughout this transaction, SunTzu BV has been assisted by PE Group which has acted as SunTzu Holding BV’s exclusive financial advisor.
This transaction will be subject to the usual representations and warranties for this type of transaction.