The Digital Marketing Group (DMG), the digital marketing services group headed by Ben Langdon, is looking to raise £10m to fund new acquisition with the release of new shares.
DMG is also seeking to pay off debt following the acquisitions of Cheeze Limited and Alphanumeric Group last year. It bought the digital agencies following its flotation on the Alternative Investment Market in October last year.
DMG had previously acquired HSM Limited and Scope Creative Marketing.
DMG chief executive Ben Langdon, the former Euro RSCG chairman and chief executive, says: “We are very encouraged by the significant interest shown in the company and welcome our new investors. The placing will significantly strengthen the company’s balance sheet and create headroom to continue to pursue our strategy.”
DMG placed 14,285,715 shares at 70p per ordinary share to raise the £10m.