- Transaction created a powerhouse mobile app studio by combining two of the industry’s leading players.
- Added high profile presence in important Dallas market.
Overview
On January 20, 2013, Media General divested Blockdot, a leading interactive studio focused on developing mobile games and apps that enable brands to deepen bonds with customers.
Catapult was hired by Media General, who wished to divest Blockdot in order to focus exclusively on their core broadcast business.
Significance
Catapult’s role
- Marketed Blockdot to a variety of potential buyers including agencies, mobile game studios and media companies; received multiple term sheets.
- Negotiated complex issues surrounding customer contracts, Intellectual Property and management incentives.
- Leveraged extensive divestiture expertise to minimize friction between buyer, Blockdot and Media General.
“We couldn’t have asked for a more capable and experienced advisory firm. Throughout the process, the Catapult team was relentless in their pursuit of the best deal possible. There is tremendous excitement about what the two companies will be able to accomplish together.”
