Bulgarian Company, Despark, Revealed as Latest Paperhat Group Acquisition
It was announced today that Paperhat Group expanded its portfolio of businesses once more. Bulgarian digital specialist, Despark, has become the latest company to join the Paperhat Group fold.
Digital production company, Despark, based in Sofia, were advised by M&A Advisory www.mandaadvisory.com and specialise in app production and support for online e-commerce businesses.
Tim Peppiatt, Paperhat Group’s CEO, said ‘We are delighted to announce a second acquisition so early in 2015 and Despark expands both Paperhat Group’s global footprint and service provision. It is testament to the group’s vision and ambition that dynamic, exciting businesses, such as Despark, are aligning with us. We choose to work with teams which share in our belief of offering expertise across a range of in-group services which, in turn, gives clients improved marketing efficiencies. Furthermore it is not just our services that continue to expand but our team as well, with 126 new personnel added during the current two acquisitions.’
Adel Zakout, Chief Executive of Despark, added ‘What made this move make sense for Despark is the structure and increased commercial opportunities provided by Paperhat Group. We are all passionate about the work we do for our clients but the Paperhat Group board made it clear that they value the entrepreneurial drive that is at the heart of our company. For us this means we have the chance to be part of a multi-faceted marketing services group without losing the culture which made Despark a success in the first place.’
Despark will continue to operate from its offices in Sofia, Bulgaria.
It was also revealed this week that Paperhat Group’s current Business Development Director, Tom O’Donnell, has been promoted. With immediate effect, O’Donnell will serve as Managing Director of a new subsidiary of the group which will focus on the company’s global print management and onsite studio services. O’Donnell will continue to serve on the Paperhat Group main board.
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For more information visit www.paperhatgroup.com or contact Victoria Hughes at ENS Victoria@ensltd.com 020 7384 8215.