Lion & Lion was acquired for an undisclosed double-digit million amount
Leading Japanese digital agency Septeni Holdings is expanding its reach into Southeast Asia through the acquisition of another digital agency, Kuala Lumpur-based Lion & Lion.
Lion & Lion is a portfolio company of Nova Founders Capital, a global investment company. The VC firm will sell 85.1 per cent of its stake in Lion & Lion to the Tokyo Stock Exchange listed company for an undisclosed double-digit million amount.
“We were very impressed by the track record of the team behind Lion & Lion and their remarkable achievements over the last years. The acquisition of Lion & Lion enables us to foster our market position in the fast-growing ASEAN region,” said Koki Sato, Septeni Group’s President, in an official press statement.
Nova Founders Capital claims that the valuation of its stake in Lion & Lion is more than 17.6x times Nova Founders Capital’s invested capital in the company. Also Read: KK Fund launches new fund; welcomes new Partner
“The transaction is another proof of concept of Nova Founders Capital’s business model and shows again that the highest ROI remains in building companies, for those that can control risk and execute in a structured way,” said Raphael Strauch, Co-CEO of Nova Founders Capital.
Founded in 2012, Lion & Lion currently employs over 120 people across four markets — Malaysia, Singapore, Hong Kong, and Indonesia.
The agency’s client portfolio consists of many global brands including L’Oréal, Nestle, Google, CompareAsiaGroup and Apple. It has bagged awards such as Social Media Agency of The Year, and Search Marketing Agency of The Year.
Image Credit: Lion & Lion
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