Thu, 18 Apr 2024 | BUSINESS SALE
Hybrid, an education media and marketing services firm, has acquired digital development agency Crisp Digital. The deal is Bristol-based Hybrid’s second acquisition since it secured a £13 million investment from private equity firm LDC in June 2021, following its June 2023 acquisition of Prompt Marketing.
Crisp Digital, which is based in Marlow, Buckinghamshire, is an AI-led, full stack development, hosting and maintenance agency. Company founder Matthew Crisp will join Hybrid as Director of Technology following the acquisition, alongside Crisp Digital’s specialist team of developers in the UK and Nepal.
Hybrid Chief Executive Chris Cammann (pictured above, right, with Matthew Crisp) commented: “Matthew has built an incredible team at Crisp Digital and the expertise they bring to Hybrid will enable us to really enhance the services we provide to clients. This includes developing our AI strategy to better understand student behaviour and preferences and using this insight to drive campaign activity.”
“We’re able to support our higher education clients as they face new sector challenges with data, ample resources and effective analysis of the marketing. It is a tremendous next step to have them on board.”
Matthew Crisp said that the acquisition provided an opportunity to “enhance the business’ service offering and support its organic growth strategy”, adding that there was “a really strong alignment in the culture and values of our organisations”.
The deal is said to provide the opportunity from Hybrid to expand its service offering to clients, while adding complementary skills to its team. The company has seen considerable global growth over recent years, driven by a domestic and international expansion strategy.
As well as growing its UK and APAC teams, the company has also launched its first US office in Philadelphia. In the year to December 31 2023, the company reported revenues of £25 million, up from £17 million a year earlier, while growing its staff headcount by 26 per cent to more than 150 people worldwide.
Oliver Schofield, investment director at LDC, said: "The acquisition of Crisp Digital marks an important milestone for Hybrid as it further bolsters its team and expands its offering for clients, from digital marketing to data insights and creative work."
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