UTV Media has bought Simply Zesty for £1.7 million
The company was acquired for £1.7 million, with a further £5m payable based on future trading performance.
Simply Zesty, which is based in Dublin and employs 22 staff, was set up in 2009.
It specialises in providing social media market services to businesses including Sony, Volkswagen Group and ebookers.com.
John McCann, Group Chief Executive, UTV Media plc said the acquisition is part of a strategy to “create a diversified multi-media business”.
“Simply Zesty is a very successful Irish business with an international presence in the fast-growing social media sector. This acquisition strengthens our existing New Media division and adds further impetus to our multi-media strategy.
“The social media presence of UTV Media’s radio and television stations in the UK and Ireland will also be enhanced by the acquisition of Simply Zesty, facilitating far greater integration of media across online and broadcast platforms,” he said.
Simply Zesty’s CEO Ken Fitzpatrick said the company was “delighted” to be part of the UTV Media Group.
“As part of UTV, we hope to develop our existing brand and business model at an accelerated pace,” he added.
Simply Zesty is keen to build on its international presence, which currently represents more than 15% of revenues.
Nigel Robbins, Group Commercial Director, UTV Media plc said the acquisition will help existing advertising clients.
“Simply Zesty’s well-proven social media expertise will ensure that advertising clients across UTV, whose campaigns require the most effective multiplatform spread, will continue to be extremely well served.”