VOGO today announces the acquisition of Crescent Comms
VOGO (ISIN code: FR0011532225 - Ticker: ALVGO) today announces the acquisition
of 100% of the capital of UK company Crescent Comms, a leading international
services provider in the professional sports sector.
Christophe Carniel, Co-Founder and Chief Executive Officer of VOGO, said: "We
are very excited at the idea of welcoming Crescent Comms into our Group. Its
recognised skills in service provision, its network of experts as well as its
international presence will enable us to step up our growth strategy in the
professional sports sector and conquer new markets. With a historic presence in
the United Kingdom and New Zealand, as well as a natural openness to the
Commonwealth, this acquisition cements our ambitions in those regions, with the
prospect of tremendous development opportunities. The management of Crescent
Comms, which is joining the company, shares our vision and values and will be
fully committed, as we are, to the success of this project. We look forward to
welcoming this talented team and sharing our ambition with them. This new step
perfectly illustrates our strategy of overseas development and enhancement of
Jonathan Downey, Managing Director of Crescent Comms, said: "My father founded
this company and we have grown it into a recognised player in its sector.
Joining VOGO marks a new step that we are very enthusiastic to take as it will
allow us to step up the development of a company with which we share the same
vision, the same ambition and the same values. There are numerous opportunities
and we are ready to seize them!"
Danny Ryan, Managing Director of Crescent Comms, added: "We already knew the
VOGO teams through our distribution agreement for products in the VOKKERO range
and we realised how much we had in common, including a permanent quest for
excellence in technological solutions as well as the service, international
vision and strong commitment shown by teams. It was very important for us to
join a company in which our employees could flourish and which shares
significant complementarity in terms of both offers and the strategic roadmap.
We couldn't have dreamed of an operation that matches our criteria as well as
this one. Joining VOGO is extremely exciting."
An international leader in services provision and solutions integration in the
professional sports sector
A benchmark and a long-term partner
Crescent Comms is an international player in services for professionals at
world sporting events. It has an international network of engineers and offers
customised communications solutions for referees and pitch support, maintenance
and assistance services and consulting services.
The company is based in the United Kingdom and New Zealand and already
distributes the VOKKERO product range in 11 countries.
It enjoys the loyalty of a broad client base across several sports: England
Rugby, PGMOL, the International Cricket Council, FIFA, and the England Cricket
A strengthened position in the professional sports sector and an expanded reach
in English-speaking markets
This acquisition gives VOGO a presence in the United Kingdom at a time when
this strategic market is in a post-Brexit acceleration phase while still being
subject to health restrictions. This operation will also expand the Group's
international reach within the Commonwealth, English-speaking Africa and
Oceania. This strengthening of penetration in these geographic markets is
perfectly in line with the roadmap presented at the time of the IPO.
This acquisition will also expand the commercial potential in previously
under-exploited sports such as cricket, in terms of both the audio and video
solutions offered by VOGO. Finally, in a global context of recruitment
difficulties, the arrival of Crescent Comms' teams will bring new competencies
including technical expertise, commercial skills and international culture.
In terms of the commercial structure, Crescent Comms will soon become VOGO UK
and will be responsible for developing all of VOGO's activities (audio and
video) in many English-speaking countries (excluding the USA).
Management fully invested in the success of the joint project
The commitment shown by Crescent Comms' managers has made the brand a success
worldwide and is therefore an advantage for VOGO when it comes to integrating
the company. Danny Ryan and Jonathan Downey will take over management of VOGO
UK and will benefit from a long-term incentive plan
As well as the commitment shown by the directors, the company's size and the
long- standing relations already established with VOGO will facilitate
A significant contribution to activity and an immediate increase in earnings
Crescent Comms achieved turnover of EUR1,001,000 in the financial year that
ended in 2020 and EUR2,280,000 in 2019, a pre-COVID year. The company is
historically profitable, posting EBITDA of EUR342,000 in 2020.
Acquisition scope and conditions
The transaction involves the cash acquisition of 100% of the capital of
Crescent Comms for EUR1m. In addition, milestone payments paid in cash or
shares at VOGO's discretion have been agreed for 2022 to 2025, conditional on
performance and earnings targets of VOGO UK.
With this new acquisition, VOGO confirms its ambition to consolidate its
position as a leading global player in the sports market, in a favourable
context illustrated by the Group's strong growth in recent months.
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In the Sports sector, VOGO is a leading international player with its
audiovisual solutions for fans and professionals alike, through its two
flagship brands: VOGOSPORT and VOKKERO. For professionals, VOGO offers analysis
and decision-making tools (referee assistance, medical diagnostics, coaching).
VOGO's disruptive solution for fans transforms the stadium experience by
providing multi-camera content on demand for tablets and smartphones, no matter
how many people are connected. VOGO also operates in the Industry and
Healthcare sectors. All of the Group's technologies are patent-protected. VOGO
operates in France (Montpellier, Paris and Grenoble) and in North America, with
an office in New York. It operates indirectly in other countries through its
network of 35 distributors. The Group has been listed on the Euronext Growth
stock market since November 2018 (ISIN code: FR0011532225 - ALVGO). It also
joined the European Tech40 in 2020.