Acquisition(s)

ST IVES PLC - Acquisition(s)

PR Newswire

London, March 8

11 March 2013

St Ives plc ("St Ives" or "the Group") is pleased to announce that it hasagreed to acquire Amaze plc ("Amaze"), a leading marketing and technologyconsultancy, from Hasgrove plc ("Hasgrove").

The acquisition of Amaze is a continuation of St Ives' strategy to create acomplementary range of digital and marketing services that will enable theGroup to add further value to existing and new clients.

Established in 1997, Amaze is a leading digital marketing agency and digitalbusiness solutions provider, providing services such as strategic consultancy,design and build, digital commerce and technology, digital communications andglobal implementation and rollout services. The business employs approximately200 staff, is headquartered in central London and has a strong B2C and B2Bclient base across a range of vertical sectors that includes a number ofinternational brands in the FMCG, automotive, retail and other sectors.

In the financial year ended 31 December 2011, Amaze generated adjusted* EBITDAof £1.5million on revenue of £14.6million; gross assets were £15.3million. (*Before items of a one off nature.)

St Ives has agreed to acquire all of the issued share capital of Amaze, on acash and debt free basis, for £15.3 million in cash. Further consideration ofup to £9.0million may be payable dependent on incremental financial performancefor the year ending 31 December 2013. The acquisition is subject to theapproval of Hasgrove's shareholders and a circular outlining the disposal willbe sent to their shareholders shortly.

It is expected that the acquisition will be earnings enhancing in the currentfinancial year.

Following the acquisition, Amaze will operate as a subsidiary of St Ives andwill continue to be managed from its current locations by the existingmanagement team of Natalie Gross, Wendy Stonefield, Rick Curtis, Matt Clarke,Sandra McDowell and Stephen Collins.

Patrick Martell, Chief Executive of St Ives, said:

"The acquisition of Amaze creates the foundation for an additional major pillarof our Marketing Services strategy. We have strong positions in data marketing,research and consultancy services, field marketing, and now digital solutions.

Further acquisitions will be focussed on building out these four pillars tofurther strengthen our integrated marketing services offering."

Natalie Gross, Chief Executive Officer at Amaze, commented:

"We are extremely excited about becoming part of the St Ives Group, with allthe opportunities this presents. St Ives has a well known history for backingand supporting the growth and expansion of the companies it acquires andenabling them to realise their full potential."

For further information please contact:

St Ives plc 020 7928 8844

Patrick Martell, Chief Executive

Matt Armitage, Finance Director

MHP Communications 020 3128 8100

John Olsen/Ian Payne/Giles Robinson