Valletta, 26 February 2019: blockescence plc (Security Identification Number WKN: MT0000580101; symbol: BCK, "blockescence") successfully acquires 67.4% of the shares in the influencer and social media specialist ReachHero GmbH. ReachHero has a leading platform solution for influencers and advertisers in Europe. After the acquisitions of the Mediakraft Group and adspree media GmbH by Gamigo AG – a portfolio company of blockescene - another media asset is supplementing the Group portfolio in the B2B area. The purchase price payment is covered by shares of blockescence plc to be newly issued and a cash component. The number of shares will be issued in line with potential purchase price adjustments. The new shares will be subject to a lock-up period of six respectively twelve months. The founders will retain a stake in ReachHero and will continue to manage the company.. The ReachHero acquisition is expected to lead to an additional revenue contribution in the mid single-digit million euro range at blockescence group level in 2019, which will be supported by synergies with the media and gaming companies also belonging to the group. A positive EBITDA by ReachHero is expected for the current year. The purchase price is in the mid single-digit million range plus earn out. The parties have agreed to not disclose the exact amount of the purchase price.
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About blockescence plc:
blockescence is a strategic investment holding company which focuses on a buy, build and sell strategy of fast-growing companies in consolidating TMT sectors. The blockescence portfolio companies are growing through acquisitions and organic growth. New technologies are proactively used to create USPs and efficiencies within the portfolio companies. An example is the implementation and rollout of the distributed ledger technology (DLT or blockchain technology) to secure a competitive edge for the portfolio companies. blockescence has its registered office in Valletta (Malta), with subsidiaries in Switzerland and Germany, and is listed on the Frankfurt Stock Exchange as well as on XETRA.
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St. Christopher Street 168 Valletta VLT 1467 Malta