Shares in Brave Bison (AIM:BBSN) surged 12% on Thursday after the digital marketing group upgraded forecasts and announced the acquisition of London-based consultancy MTM.
The deal, worth an initial £6 million in cash and shares, will add strategy and audience insights expertise to Brave Bison’s business, whose clients include global brands such as Primark, EA Games and Guinness World Records.
A further £6 million could be paid over five years, depending on performance, taking the maximum value to £12 million.
The acquisition is set to more than double pro-forma revenues to £44 million in 2025 and lift underlying earnings before synergies.
Management said expectations for both 2025 and 2026 have been raised following strong trading momentum.
The stock rose 7.47p to 72.22p.