Estonian CEO acquired British mobile marketing company TextMagic
Monday Media OÜ, holding company of Priit Vaikmaa, acquired 55% of mobile marketing company TextMagic Ltd. Priit Vaikmaa had been CEO and minority shareholder of TextMagic for last six years. The transaction enabled British founders to exit profitably, while CEO gained more flexibility to run the company. Mr Vaikmaa said that the company is operating on fast growing market and he is aiming to tenfold both revenue and profit of TextMagic over the next five years.
The buyside advisors were Nordic CF Advisory and law office Eversheds Ots & Co. NCFA’s partner Jako Kruuse commented that the MBO of British company showed once more Estonian entrepreneurs’ increasing interest to expand and develop business outside of Estonia.
TextMagic Ltd, a provider of text messaging products, develops and markets web- and Internet-based SMS communications solutions for businesses, agencies and developers. The clients of TextMagic have sent more than 40 million SMS via TextMagic since the foundation of the company in 2001. TextMagic clients include Oxford University, Fujitsu and PepsiCo.
Nordic CF Advisory is an independent Estonian investment banking company providing financial advisory services with individual approach and solutions. NCFA is focused on M&A advisory, business valuations and capital raising projects.