Creston taken over
Isle of Man-based offshore private equity investors DBAY Advisors will pay nearly £76 million for digital marketing communications group Creston.
News of the acquisition agreement follows an attractive cash proposal that's being pitched at its shareholders.
It's the culmination of DBAY's progressive interest and investment in Creston over the last two years, according to CEO Alex Paiusco.
Senior non-executive director of Creston, Nigel Lingwood, says the move reflects uncertain market conditions.
That includes a 4 per cent fall in half-year like-for-like revenue this year.
Mr Lingwood added that the takeover supports Creston's five-year growth strategy.
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