Aeorema Communications acquires viral film firm ST16
Viral film company ST16 has been bought by AIM-listed Aeorema Communications in a deal worth £86,500.
Aeorema Communications has agreed to pay £40,000 in cash and the remainder by the issue of 200,000 shares.
ST16 was founded in 2000 by Jeremy Stinton and Simon Crofts. It has produced work for clients including the NHS, Vodafone and Fujitsu.
The acquisition is the first for Aeorema Communications since Mike Hale, a former board director of Saatchi and Saatchi, become chairman.
“We looked at a number of companies that would be compatible culturally and creatively with our current team,” Hale said. “ST16 was the standout. They have done a range of superb work and have category leading skills in viral. They will continue to run the company as a separate business.
“Nevertheless, we see significant opportunities to introduce their skills to Cheerful Scout and Twentyfirst’s extensive range of clients. Buying a viral film company is a logical extension of our communications offering.
“Jeremy Stinton from ST16 will join our management committee and Simon Crofts will be Head of Creative at ST16 working across the group’s creative to help clients look at ways to leverage viral. The growth of demand for video content for PCs, iPads and smartphones opens a very good growth area for us.”
Aeorema CEO Gary Fitzpatrick added that the group would continue to look for acquisitions among events companies and in the social media space.