Jaywing will acquire 75% of Frank Digital, an agency specialising in the high-end design and build of websites, mobile applications and digital campaigns for brands. The deal brings additional scale and new skillsets to Jaywing’s already successful Australian business. To fund the initial and contingent cash consideration, Jaywing has raised £1.3m (gross) in new equity at 20p p/s. We upgrade our recommendation to “BUY” given the earnings accretive nature of the deal and current valuation.
27 Feb 2018
Frankly, a good deal
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Frankly, a good deal
Jaywing plc (JWNG:LON) | 3.1 0 0.0% | Mkt Cap: 2.89m
- Published:
27 Feb 2018 -
Author:
Cavendish Research -
Pages:
7
Jaywing will acquire 75% of Frank Digital, an agency specialising in the high-end design and build of websites, mobile applications and digital campaigns for brands. The deal brings additional scale and new skillsets to Jaywing’s already successful Australian business. To fund the initial and contingent cash consideration, Jaywing has raised £1.3m (gross) in new equity at 20p p/s. We upgrade our recommendation to “BUY” given the earnings accretive nature of the deal and current valuation.