SECTOR

Advertising Technology

BUSINESS DESCRIPTION

AIM listed holding company for the Bidstack Group, which operates in the advertising technology and gaming markets, focusing on dynamic advertising placements.

DATE

March 2024​

SITUATION

• Due to ongoing losses and issues in accessing further funding the Group suffered from increasing liquidity constraints, unable to support ongoing operations.​

A&M ROLE AND OUTCOME

• A&M was engaged in February 2024 to commence an accelerated sales process.
• We marketed the Group to trade parties, financial investors and turnaround specialists as part of the process in an expedited timeframe.
• A sale of the business and assets was completed to Virtual Sport Technology Ltd shortly following the appointment of individuals from A&M as joint administrators. 
• As a result of the transaction all employees maintained their employment, customer contracts were preserved and the majority of group creditors were taken on by the purchaser.​