Kingston Smith advises on the sale of Code Computer Love to MediaCom
Kingston Smith Corporate Finance is delighted to have advised on the sale of a majority stake in Code Computer Love (“Code”) to MediaCom, part of WPP. Nicola Horton led the Kingston Smith team that advised the shareholders of Code on the transaction and was assisted by Paul Winterflood.
Founded in 1999, and headquartered in Manchester with around 80 staff, Code is a user experience studio that creates and develops digital products, campaigns and capabilities. Clients include Hillarys, Brother and Amnesty International.
Following the acquisition, Code will continue to be managed by its founders Tony Foggett, Louis Georgiou and Wini Tse, who retain a significant stake in the business.
Commenting on the transaction, Tony Foggett, Code’s CEO, said: “We are so pleased that we approached Kingston Smith to help, guide and advise us through the process. Nicola Horton and her team provided us with the professionalism, experience and expertise in a manner that gave us the confidence to successfully get through and complete the deal. We are delighted to recommend them to other SMEs in a similar situation.‘’
MediaCom said that the acquisition would allow it to offer clients a fully connected service across the entire customer journey. The deal also helps meet a target set by MediaCom parent WPP for between 40% and 45% of its total revenues to be derived from digital services within the next five years.