Trimantium GrowthOps succeeds in APD bid
Marketing and consulting company, Trimantium GrowthOps, has been successful in its bid to acquire fellow ASX listed company, Asia-Pacific Digital.
In an ASX announcement this morning, Trimantium announced it had passed the 90% shareholding mark which allows the company to compulsorily acquire any outstanding shares.
Trimantium GrowthOps CEO, Paul Mansfield: “The acquisition makes a lot of strategic sense for us”
The $20 million deal announced last June will see Trimanium GrowthOps, which itself listed in March this year as part of a deal that saw advertising agencies AJF Partnership and Khemistry join with a group of technology and digital transformation consultancies, take control of Singapore based APD.
APD was listed on the Australian Securities Exchange in 2014 with the aim of building an integrated digital transformation business across the Asia Pacific region. In December the company suffered a blow in losing Ford’s East Asian technology account, which forced the company to close its Shanghai office.
The takeover adds 300 staff in APD’s Singapore, Kuala Lumpur, Manila, Singapore, Sydney, Melbourne and Auckland offices to Trimantium GrowthOp’s existing workforce of approximately 260 employees.
Asia Pacific Digital’s chairman, Roger Sharp will joint the Trimantium GrowthOps board as part of the acquisition.
GrowthOps chief executive officer, Paul Mansfield said in the ASX statement: “We continue to be impressed with the depth of skills of APD’s people and the resulting opportunities that we see for collaboration and cross-selling across the two businesses.
“APD brings to GrowthOps a non-overlapping portfolio of clients and complementary set of services, as well as a higher profile across Asia. The acquisition makes a lot of strategic sense for us, and we are excited to see what we can do together.”
