28th Jul 2015 08:28
LONDON (Alliance News) - Gloo Networks PLC on Tuesday said it is planning to raise GBP30 million via an initial public offering on London's AIM market, after which it will seek to acquire media sector companies in the UK, US and Europe.
Gloo is led by Chief Executive Rebecca Miskin, a former digital strategy director at Hearst Magazines UK, and by Juan Lopez-Valcarel, the former chief digital officer at education and publishing company Pearson PLC.
The company will seek to acquire and operate "trusted consumer brands" in the media sector in the UK and US, and to a lesser extent Europe, with an enterprise value in the range of GBP250 million to GBP1 billion.
"Gloo intends to acquire businesses that appeal to attractive socio-economic groups, and through the use of data and technology, transform these businesses to fully realise their digital potential, thereby unlocking value and increasing profitability," the company said in a statement.
"Content consumption is at an all-time high, whilst technology is disrupting media and enabling a deeper understanding of an audience than ever before. We have an exciting opportunity at Gloo to create a new blueprint to enrich the user experience, and unlock the full potential of brands," said Miskin.
The company is backed by Marwyn Value Investors Ltd, which has invested in Gloo via its Marwyn Value Investors LP fund. James Corsellis and Mark Brangstrup Watts, the founders of Marwyn Group, will sit on Gloo's board.
By Sam Unsted; [email protected]; @SamUAtAlliance
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