The deal is worth an initial £2.41m in cash, with an earn-out consideration of £5.75m payable subject to its performance over the next 2 years.
The acquisition follows on from the firm’s recent entry into Australia, where it purchased search marketing agency Digital Massive, and is part of its plan to create a low risk international growth platform through the development and distribution of data science led products.
Bloom has two principle strands to its business, a digital marketing agency and data science led product suite -Bloom Intelligence.
The Bloom Intelligence suite includes the social intelligence tool Whisper, which is the intelligence feature behind Sky Sport’s Premier League advert featuring Thierry Henry and iconic moments from Premier League football.
It has also been used by ITV and Domino’s to validate the value of Domino’s X Factor sponsorship.
Bloom has a number of blue chip clients including Sky, SIG, ADT, Arco, Ebuyer and Anytime Fitness, further adding to Jaywing’s impressive portfolio, which includes Pepsico, 3M, E.on, first direct and Pets at Home.
Bloom CEO Alex Craven will remain in the business and take on responsibility for leading the development of Jaywing’s enlarged product set.
Alex Craven, CEO at Bloom, said: “I’ve followed Jaywing’s progress in recent years with great interest. Its impressive data science credentials fit very well with our own use of data science and its application in marketing.
“Tools like Almanac, Jaywing’s online and offline tracking product, sit perfectly alongside the Bloom Intelligence suite, giving us a very rounded offer for today’s marketers.”
Rob Shaw, CEO Jaywing UK & Australia, added: “I’ve known Alex and Bloom for many years and have always been impressed by their professionalism, culture and focus on client service. Their development of industry leading tools such as Whisper has set them apart from many agencies; we especially like how Whisper insight has been used to drive emotionally engaging creative.
“I look forward to working with the team to develop their products further and deliver even more to both Jaywing and Bloom clients.”
If you’ve enjoyed this article, click on the link below to sign up for more similar stories in your area.