S4 Capital’s MightyHive expands in APAC with Salesforce specialist Destined
Sir Martin Sorrell’s S4 Capital announced Monday that its MightyHive digital-media and data business is combining with Australian-based Salesforce specialist Destined. The deal expands its data and digital presence in the Asia Pacific.
Destined, founded in 2014 by Andrew France, has more than 85 certified professionals across Australia, Singapore, Thailand, Vietnam, and Pakistan. It has provided cloud services for clients such as Spotify, Panasonic, Wingate, George Weston Foods, and Opal HealthCare.
APAC has been a focus of growth for the S4 Capital, which set up its headquarters in the region in Singapore in 2019. It recently revised its annual global forecast like-for-like gross profit target from 25% to 30% for the current financial year.
Sir Martin Sorrell, S4 Capital’s executive chairman said: “At S4Capital we differentiate ourselves by being the most agile, knowledgeable and creative partners to the world’s leading platforms, hardware and software companies and I’m delighted to welcome Andrew and his colleagues as we expand our relationship with Salesforce providing services around their various clouds in Asia Pacific and beyond.”
Andrew France, Destined’s CEO and founder, said “We couldn’t be more excited to join forces with MightyHive, MediaMonks, and S4 Capital and collaborate with their global Salesforce service offering. It’s a fantastic opportunity to be able to bring the offerings of the wider group to our clients and provide even more opportunities for our people.”
Chris Martin, MightyHive co-founder and S4 Capital executive director, said “The Destined team is incredibly impressive and we believe adding them to our portfolio will help us immediately accelerate operations and bring additional value to clients. Andrew and his leadership team will immediately bring strong technical expertise and allow us to further win in-market.”
Trading for the first four months of 2021 for S4 Capital has accelerated, with reportable revenue up almost 90%, compared to 71% for Q1. Reportable gross profit or net revenue was up almost 84%, compared to 71% for Q1.
“2020 was a very busy third year for S4 Capital, both organically and through mergers and the tempo has been maintained, as growth rates have accelerated in the first quarter and into Q2 2021,” Sorrell said last month.
In February 2021, MightyHive acquired the assets of Datalicious, a Google Marketing Platform, Google Cloud and Google Analytics partner in APAC. The purchase from Equifax Inc included talent, clients and further data capabilities in Australia, New Zealand and India. Datalicious is a specialised data and analytics consultancy.
While mergers have historically been branded under the MediaMonks and MightyHive banners, MediaMonks and MightyHive have been increasingly acting as one in the market. The combined firm will, in future, go to market under one brand or flag, as reported by Mumbrella exclusively late last year.
The company is in the process of raising a term loan of over $350 million to finance further expansion, with Sorrell also re-elected as a director.
Since the last AGM in June of 2020, S4 Capital has doubled its number of people to over 5,500 in 31 countries and almost tripled its market capitalisation to over £3 billion (US$4.2 billion).
S4 Capital was founded in 2018, following Sir Martin Sorrell’s departure from WPP. Sorrell and his former employer are currently engaged in legal proceedings over unpaid payments allegedly owed to Sorrell.
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Andrew France
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Chris Martin
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Destined
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MightyHive
S4 Capital
Salesforce specialist
Sir Martin Sorrell
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