F.Y.I.

French digital marketing firm Valtech acquires Australian start-up Neon Stingray

Australian start-up Neon Stingray has been acquired by Paris-based Valtech for an undisclosed sum and will become an Asia Pacific hub for the French digital marketing and technology firm.

The announcement: 

Sydney, 19 August 2014 – Australian connected objects and video technology startup Neon Stingray, today announced its acquisition by Paris-headquartered Valtech (NYSE Euronext Paris: FR0011505163 – LTE). The purchase, for an undisclosed sum, will see Neon Stingray’s Sydney office become a key Asia-Pacific hub for the global digital marketing and technology giant. Neon Stingray’s Stockholm based office will also merge with Valtech’s established Scandinavian presence.

Sebastian Lombardo, Chairman & CEO of Valtech said the acquisition of Neon Stingray will advance the group’s global footprint and add important technology capabilities to the business.

“Neon Stingray has unparalleled expertise in creating and delivering digital technology multi-channel platforms in brand content and video for world-class clients. Their startup spirit, outstanding technology skills and reliable delivery perfectly match Valtech’s values. We look forward to working with Neon Stingray and delivering to our clients the benefits of our combined capabilities and expertise in an agile and global way,” he said.

CEO Chris Flintoft and CTO Patrik Molander founded Neon Stingray in 2010 as a boutique global business – one that pairs deep engineering expertise in media and connected devices with marketing technology and user interface development. The company specialises in creating enterprise level products that incorporate back-end infrastructure and front-of-house consumer experiences. In four years they have have grown their team to over 50 people, and delivered high profile technology to clients such as Foxtel, Google, Hoyts, Telstra and Sweden’s TV4.

The acquisition will enable Neon Stingray to leverage the worldwide scale, innovation and client base of Valtech to rapidly grow both in Australia and across Asia Pacific with the support of Valtech offices in India and Singapore. The firm is expected to increase its headcount significantly over the next 12 months as it scales up the business.

Chris Flintoft, CEO of Neon Stingray, said: “We are delighted to become part of the Valtech family, and to have access to the resources, support and ideas of over 1600 professionals across the world. It’s been a hugely exciting four years for Neon Stingray, and this acquisition will give us the fuel we need to break into the next level.

“We see huge opportunities to create new digital marketing experiences that bridge multiple devices and connected objects – and to enable brands to take advantage of the latest technologies in media, wearables, and the ever-expanding internet of things. Our clients and partners can now access the huge capabilities of a global organization driven by a great vision of Agile marketing, but with the same boutique startup methods that we espouse at Neon Stingray.”

Source: Ashford Pritchard, Launch Group

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