Blank-check company Legacy Acquisition Corp. has agreed to purchase a global digital marketing company to be renamed Blue Impact Inc., clearing the way to grow organically and through M&A.
Legacy, which raised $300 million almost two years ago, is led by former Procter & Gamble executive Edwin Rigaud but the new company will be run by Brett Marchand, who also once worked at P&G.
Blue Impact helps more than 3,000 clients invest in a range of digital marketing campaigns. Those range from Google ads to the burgeoning field of social media with platforms such as Facebook’s Instagram, Twitter, and Snapchat.
At $10 per share, the deal implies an enterprise value of 7.7 times expected 2019 Ebitda.
John Jannarone, Editor-in-Chief