Pictured: Derek Jones sells stake in company founded by his father in 1981, but remains chairman
Mediatel has announced a significant strategic investment to enable the business to grow “further and faster”, particularly in markets outside the UK.
Together with the existing Mediatel management team, international media and tech business Adwanted Group has acquired the shares of Mediatel’s retired shareholders, including its former CEO for over 20 years and now executive chairman Derek Jones.
Jones will remain as chairman, while the existing Mediatel management team, led by CEO Greg Grimmer, will all continue in their current roles.
Adwanted Group, founded in 2012 by CEO Emmanuel Debuyck, currently has offices in New York and Paris.
“This is a great opportunity for everyone at Mediatel to harness the future potential of the business together with a strong strategic international partner,” commented Grimmer.
“The synergies are very attractive to both parties. For Mediatel we have the opportunity to export our successful tech products outside the UK, plus we can expand our events footprint into Adwanted’s existing markets.
“For Adwanted group, this is a chance to enter the fourth largest advertising economy in the world via a successful and established player.
“Mediatel has a strong and talented team, many of whom have been at the company for several years. Everyone is enthusiastic about the new opportunities this deal brings both for our people and our clients.”
Grimmer continued that while this change takes place with immediate effect, it will be “business as usual” for Mediatel’s clients across the UK media industry, “with the same high level of customer support and trusted products that we are famous for”.
Debuyck, CEO of Adwanted Group, added: “We have found in Mediatel a great partner to accelerate the growth of both companies, which share the same values around entrepreneurship, agility, and a culture that is human-centric.
“Adwanted Group has developed its business with continuity and consistency, while remaining adaptable to the constant change that occurs within the advertising industry. We do all this knowing that we require an innate understanding of local markets.”