The Birmingham office of Freeths has advised on the multi-million pound acquisition of Mofilm by international advertising mogul David Jones.
Mofilm was established in 2009 and is a fast-growing crowdsourcing content developer, which has worked with a host of blue chip companies including Coca Cola, Unilever and Chevrolet.
The acquisition is one of three recent deals by Mr Jones’ new company – You & Mr Jones – which also include investments in news outlet Mashable and software marketers Pixlee.
Ateeq Ahmed, a senior associate in Freeths’ corporate team, who has worked with Mofilm since its inception, said the deal saw You & Mr Jones take a majority stake in the company and was part of a drive to acquire a range of complimentary companies from the tech sector.
He said: “Mofilm is very much the definition of a disruptive tech business and so it is no surprise that it was such an attractive proposition for You & Mr Jones and will be a cornerstone of that business going forward.
“It has an incredibly innovative business model that involves creating advertising films for major companies using its network of independent film-makers which can be done at a fraction of the cost of using a traditional agency.
“This is an exciting opportunity for Mofilm and its founder Jeffrey Merrihue who will become a partner at You & Mr Jones and I have no doubt that together they will take Mofilm to a new level.”
British entrepreneur Mr Jones previously advised Prime Minister David Cameron.
His new ‘brandtech’ venture – which will be headquartered in New York – has raised $350 million from six investors.