3rd October 2005
Cello invests in digital and online marketing services company
Cello Group plc (‘Cello’), the marketing services group, has made an investment with an option to take control in OMP Services Limited (‘OMP’), the holding company for Oomph Agency Services Limited (‘Oomph’), a newly created digital support services company.
Oomph, which was established in 2005 by Stephen Priestnall and Rodger Williams, provides clients with digital and online marketing communications, working closely with Talking Numbers, the data analytics subsidiary of Cello that sits within Cello’s direct marketing platform. Current clients of Oomph include Co-operative Financial Services and Cox & Kings Group.
Stephen Priestnall was formerly Managing Director of Syzygy UK, a digital agency listed on the Deutsche Borse. Rodger Williams was formerly Creative Director of Bates UK and worked at Abbot Mead Vickers, CDP, and Leo Burnett.
Cello has made an investment in the form of a convertible loan of up to £130,000 and has the option to acquire 50.1% of the issued share capital of OMP before December 2008 for a consideration of £300,000, less the outstanding loan, payable partly in shares and partly in cash. The remaining 49.9% of OMP is subject to a put option by the vendors, with the consideration being based on future performance, and subject to a maximum of £1.5 million, up to 75% of which would be payable in Cello ordinary shares. The total maximum payable for 100% of OMP is £1.8m.
Mark Scott, Cello Chief Executive, said:
‘Cello already has a strong footprint in the digital marketing world, in a range of applications. We are committed to expanding our digital capability both in direct marketing, on-line brand building, and on-line research. OMP is the first of a number of developments which will strengthen our existing digital capabilities. Our objective is to become UK market leader in the provision of such services.’