Marwyn, the investment group that brought companies including Peppa Pig rights owner Entertainment One to the public markets, is launching an Aim-listed cash vehicle,Gloo Networks, to buy media companies valued at up to £1bn.
Gloo Networks is set to announce its intention to raise £30m from institutional investors and list on London’s junior stock market. The company then plans to raise more money to buy and operate consumer brands in the media sector worth between £250m and £1bn.
In a press release Gloo Networks described itself as a technology company established to acquire and operate companies in the media sector,
The Company, which is led by digital transformation experts Rebecca Miskin (Chief Executive Officer) and Juan Lopez-Valcarcel (Chief Product and Operations Officer), intends to acquire and operate trusted consumer brands in the media sector, with an enterprise value in the range of £250 million to £1 billion. Gloo is seeking to benefit from the changing relationship between consumer brands, media owners and the advertising industry; this relationship continues to experience structural change, driven by the evolving prevalence of internet usage and the increasing adoption of data analytics, allowing businesses to better understand and serve consumers. The convergence of the internet and media sectors has created multiple investment opportunities with numerous companies or businesses identified within Gloo’s target universe.