Magnum Capital enters SunMedia’s shareholding to strengthen international growth
SunMedia continues its international expansion plans thanks to the entry of the investment fund Magnum Capital in the company’s shareholding.
According to the Spanish technology company, this step will allow the technology company to “face new challenges” and “continue with its commitment to talent, quality, innovation and creativity”, maintaining its internal structures, its workforce and its top management, which will continue to be led by Fernando García, CEO of SunMedia.
In the last year, SunMedia increased its global workforce by 43%, with more than 190 employees, and consolidated its international presence with ten offices in countries such as Mexico, Peru, Colombia, Argentina, Brazil, Panama, Ecuador, the United States, Sweden, Portugal and two in Spain.
According to Fernando García, CEO of SunMedia, “this is a unique opportunity in the company’s expansion. Going through this new stage with a trusted partner such as Magnum Capital will allow us to expand our capabilities to continue growing. We are also excited to take on this challenge with our teams and continue to expand a project whose success is due to the talent, expertise and commitment of our staff”.
Alberto Bermejo, partner of Magnum, has stated that “we are delighted to be part of a company that has had an outstanding growth in the AdTech sector, demonstrating its ability to lead the market. From Magnum we will contribute all our experience and knowledge to continue adding successes”.
With this transaction, Magnum completes the fifth investment of its Magnum Capital III fund, after the operations in Digitalent, Metrodora Education, Apices and Probelte.
BBVA acted as exclusive financial advisor to SunMedia while Squire Patton Boggs and Herbert Smith Freehills acted as legal advisors to Sunmedia and Magnum respectively.