Technology

Posted on January 9, 2020 by staff

Social Chain makes five acquisitions

Technology

Social Chain has made a series of international acquisitions in an “aggressive” scaling programme.

The social media firm has moved for a majority stake in five companies with combined annual revenue of €35 million in 2019.

The deals for drtv.agency and Conteam:Below strengthen Social Chain in the areas of media, data and customer acquisition.

Meanwhile the deals for the KoRo, Solidmind and Urbanara brands give it a presence in the food, wellbeing and living sectors.

Social Chain said the companies have a combined annual revenue potential of €50m in 2020. The deals were in exchange for shares and cash.

“We’re aggressively scaling our international organic growth through further strategic investments this year,” said CEO Steven Bartlett.

“Social Chain is becoming a global leader in building and scaling owned social-first brands and disruptive social-first media and marketing services.

“These strategic acquisitions allow us to continue laying the important and necessary foundations in order to deliver our ambitious global vision.

“Today’s announcement is one of many steps we intend on taking to further accelerate our growth in 2020. The industry should brace itself.”

KoRo is an online platform offering a variety of superfood products for health and environmentally conscious customers while Solidmind is an established supplier of innovative well-being supplements and owner of one of the largest and fastest growing cannabidiol brands in the German-speaking regions.

Social Chain was able to successfully increase an existing minority holding in both companies.

Urbanara is an interior brand company using natural materials to create modern home accessories.

Conteam:Below is one of Germany’s largest owner-operated digital marketing agencies while drtv.agency is a performance-based TV advertising agency which utilises proprietary technology and data to optimise customer acquisition and provide greater clarity on ROI from media spend.

Dr. Georg Kofler, chairman and anchor investor of parent company The Social Chain AG, commented: “These tactical acquisitions driven by the management team at Social Chain have allowed the company to surpass its acquisition target for 2019, thus putting it in an excellent position to capitalise on the further development of these brands.”