The combination of 7digital and UBC Media has created a powerful business-to-business supplier at the heart of the fast-developing global industry in digital music and radio. This industry is moving quickly from the traditional ‘download to own’ model to streaming services with curation, which comes much closer to traditional online radio models.
7digital CEO Simon Cole commented: “This is a very exciting development, the launch of a new company which brings together the best of digital music and radio at a time of enormous change and opportunity in both industries. New funding gives us a significantly strengthened balance sheet and a world-leading technology platform to move ahead of the changing market.”
Chief Strategy Officer Ben Drury commented: “I have known GP Bullhound for many years and I have enjoyed working with them during this complex process. A reverse-merger and a simultaneous fundraise are not simple but the team was there every step of the way. We are looking forward to continuing the relationship as 7digital builds from here.”
Hugh Campbell, Managing Partner at GP Bullhound, commented: “We have worked with the leaders in the digital music sector over the last decade including Shazam, Spotify, we7 and now 7digital. We continue to believe there are great opportunities for brands, radio groups and others to embrace the new streaming world and launch exciting new services powered by 7digital.”
This represents the completion of GP Bullhound’s 15th transaction in 2014 and highlights the firm’s commitment to working with category leaders in the digital music and software space.
For enquiries contact Hugh Campbell, Managing Partner, [email protected]
GP Bullhound is an international technology investment banking group with offices in London, San Francisco, Stockholm, Berlin and Manchester. Founded in 1999, GP Bullhound provides world-class advice on mergers, acquisitions and private placements to a diverse range of corporate clients, institutional investors and high net worth individuals.
Combining a true love for entrepreneurship and innovation with deep global buyer relations and sector expertise, GP Bullhound has completed transactions for tech category leaders, most recently selling Cambridge Technology Partners to Atos, Pozitron to Monitise, Pure360 to SEP, Tunigo to Spotify, and Fjord to Accenture. For more information, please visit www.gpbullhound.com
In 2013, GP Bullhound was awarded Boutique Investment Bank of the Year and Leading Advisers of the Year by the Acquisition International M&A Awards, and Manish Madhvani, a Founding Partner of GP Bullhound was named as a winner of the fourth annual M&A Advisor 40 Under 40 Award.
7digital aims to simplify access to the world’s music and radio. 7digital’s robust, scalable digital music platform and flexible APIs are used to power comprehensive music and radio services for leading consumer brands, mobile carriers, broadcasters, automotive systems, retailers, record labels, artists and agencies. Alongside proven technology, the company offers global music rights, award-winning radio production services, and content management expertise, making 7digital a leading global partner in the space. 7digital is listed on AIM in London.