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Fuse8

Fuse8 takes AIM as agency sets sights on stock martket entry

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By The Drum Team, Editorial

June 22, 2010 | 3 min read

Leeds digital agency Fuse8 has moved to become an AIM listed company which could see managing director Nigel Hunter become chief executive and Mark Walton become executive chairman.

Speaking exclusively to The Drum, Hunter said that Award, which is currently an investment company traded on PLUS Markets, conditionally agreed to purchase the entire issued share capital of Fuse 8 Group Limited and, following which and subject to the shareholders of Award approving the acquisition at an General Meeting on 19 July the Company will then apply to be admitted to the AIM market as Fuse8 plc - the name change is also subject to shareholder approval at the General Meeting.

It is thought that the Leeds operation will remain its headquarters, while the company has recently moved its staff based in Russia into new offices.

“For the last three years we have seen, at least, 30% year-on-year growth and while many of our regional competitors were struggling, we were still able to demonstrate 30% year-on-year growth and what we want to do is to use the opportunity in the upturn in the economy and use what we’ve been able to grow through out that period and we want to be able to go into the market in a slightly more aggressive stance than we have had in the past,” explained Hunter.

The new roles for Hunter and Walton will not be confirmed for at least another fortnight as its shareholders are consulted.

Hunter also hinted that the move will allow the firm to take a more aggressive stance in the market, which could mean that Fuse8 will embark upon an acquisition process.

Acquisitions or not, Hunter continued to explain that the growth of the company will see complimentary services such as data added.

“We believe that there’s a trilogy of direct, digital and data that we would like to move into and while we have certain areas of that fairly established under our belt, the opportunity for us to have it all in-house, would be something that we’d want to capatalise on and we’d be able to exploit out technological platforms to deliver all of those products really well.”

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