The Mission acquires Influence Sports & Media for £1.5m
Digital marketing and communications group Mission’s agency Mongoose has acquired Influence Sports & Media for an initial consideration of £1.5 million.
Headquartered in London and with a strong presence in the US, Influence Sports & Media works with sponsors and brands, rights holders, investors and industry clients to deliver marketing communications strategies, commercial programmes, and actionable market intelligence.
The team has extensive and long-standing relationships with leading players in global sport, including Rolex, Mercedes F1, Aramco, Alpine F1, the 37th America's Cup and World Sailing.
In the financial year ended 31 October 2021, Influence reported a gross profit of £1 million, pre-tax profits of £0.3 million and net assets of £1,000.
“The acquisition marks the latest step in Mongoose's plans to strengthen and scale its social media and marketing capabilities across the sports and entertainment markets. The board expects the acquisition to be earnings enhancing with immediate effect”, parent Mission said in a statement to the London Stock Market.
Alistair Watkins, founder & CEO of Influence Sports & Media, added: “Over the last 10 years we have continued to build our presence in sport, delivering best-in-class services for leading global brands, teams and properties. Formula 1 and the America's Cup are both key pillars of the agency, and it is a hugely exciting time as both properties are seeing exponential growth and interest around the world. We are delighted to be joining The Mission Group plc and the newly-formed Mongoose Group to drive international opportunities and offer a greater breadth of services for all our clients.”
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