GP Bullhound advised Byte on its acquisition by Dept
Delivering returns at scale on digital platforms.
London, 18 February 2021 - GP Bullhound acted as exclusive financial advisor to Byte, a marketing technology agency focused on fast-growing digital platform brands, on its sale to Dept, an international digital agency for creativity, technology and data, backed by The Carlyle Group.

Founded in the UK in 2014, Byte is a fast-growing independent martech agency that combines technology with creativity, data, strategy and paid media to crack brands’ business problems through a variety of marketing solutions like ad campaigns, AR, automation and chatbots. As a trailblazing specialist martech agency, Byte has attracted long term clients that include Spotify, ASOS and Just Eat Takeaway. In 2020, Byte grew its global revenue by 20%, adding a number of high-growth clients to its roster, including TikTok, Twitch and Zoopla.

The acquisition will accelerate Dept’s global growth and with Dept’s footprint of 27 offices around the world, Byte now has the opportunity to provide a full-service digital offer to its global clients.

Alex Miller and Jamie Kenny, co-CEO and co-founders of Byte, commented: “We’ve become part of Dept to accelerate global growth and supercharge our tech offer with access to over 500 engineers across the world. We chose to work with GP Bullhound because they are the leading global dealmaker in the digital services arena, and they delivered exactly the deal we wanted. Partnering with them was one of the best decisions we made.”

Simon Nicholls, Partner, and Ravi Ghedia, Director at GP Bullhound, commented: “We have seen phenomenal growth in the world’s biggest digital platforms, creating demand and opportunity for specialist and tech-enabled agencies able to deliver returns at scale for their clients on these platforms. We see a bright future for players like Byte with a laser focus in this area and a suite of proprietary technology enabling delivery.”

This transaction is further testament to GP Bullhound’s expertise in digital services, with over 30 deals completed in the sector in the last three years alone, having advised on the merger of Orca Pacific with MightyHive/S4 Capital, the investment in Jellyfish by Fimalac, the acquisition of Oliver by You & Mr Jones, and the investment in Croud by LDC, among many others.

Enquiries
For enquiries, please contact:
Simon Nicholls, Partner, simon.nicholls@gpbullhound.com
Ravi Ghedia, Director, at ravi.ghedia@gpbullhound.com

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 10 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com

Region
UK/Ireland