LBI moves headquarters to Amsterdam
The Swedish online marketing firm Lost Boys International (LBi) is moving its headquarters to Amsterdam.
Merger with Dutch media company
LBi have announced the relocation of their headquarters together with their decision to merge with Dutch company Bigmouthmedia.
Prior to the merger with Bigmouthmedia, LBi’s primary listing was on Stockholm’s NASDAQ OMX. After the merger, the new entity will continue with a single listing at NYSE Euronext Amsterdam. This means that the official headquarters will move to Amsterdam.
LBi is well-known as the parent company of internet marketeer Lost Boys. Bigmouthmedia specializes in search engine marketing. The two decided to merge to be able to offer a broader set of services to an international audience. The new company will move on under the name LBi.
Creative capital
LBi has ambitious plans for the future and aims to become Europe’s largest marketing and technology agency. The choice to select Amsterdam as the location for the headquarters of the new firm further strengthens Amsterdam as a creative capital.
“This is a transformational deal (merger) in a growing market”, comments Luke Taylor, CEO of LBi. Fred Mulder, Chairman of LBi adds, “This combination serves to meet client demands for an agency that provides first-class service and a wide scope and of digital advertising services. I believe the combined competencies and scale achieved by this transaction, together with the funding to support further international expansion, provide a unique and highly sought after service”.
Capital injection
Before merging with Lost Boys International, Bigmouthmedia attracted 40 million Euros from private investors (Carlyle, Cyrte and Janivo) and transformed into a new company called Obtineo. With the capital injection, investors own 24% of the new, merged LBi .
Further details on the deal, read the LBi press release.
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