Be Heard Buys 75pc Stake in Analytics Firm Freemavens

Digital marketing services provider Be Heard Group is to acquire a 75 percent stake in marketing analytics and innovation consultancy Freemavens for around £1.7m.

Founded in 2012 by Andrzej Moyseowicz and Christopher Palengat, Freemavens uses big data to develop insights and actionable ideas, and has built several in-house data analytics tools and methodologies. The central London-based firm now has a team of twenty, and for the financial year ended 31st December 2016 delivered gross revenue £1.72m and adjusted EBITDA of £0.41m.

The acquisition is Be Heard's first in data and analytics, and adds to its partnerships with design and UX agency MMT Ltd, content marketing agency Kameleon, and digital media specialist Agency21. According to Be Heard, the deal provides it with an entry point for big data and analytics, and gives the group a platform to develop advanced tools and services. Moyseowicz and Palengat will retain their 25% share of the business.

Peter Scott, Executive Chairman of Be Heard, comments: 'The Freemavens team will give Be Heard industry leading analytics capability, and once bedded into our group will augment and enhance the work we do for clients. Intelligent use of data underpins all decision making; our intention is to develop the analytics capability at Be Heard as a central function and resource for our clients. Bringing the exceptional Freemavens team into the fold is, I believe, a bold first step'.

Web sites: www.beheardgroup.com and www.freemavens.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.