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Bidvest takes majority stake in Retroviral

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 07 Jul 2015
Retroviral co-founder Mike Sharman retains an interest in the company.
Retroviral co-founder Mike Sharman retains an interest in the company.

Bidvest Media, a division of the JSE-listed Bidvest Group, has acquired a majority stake in Retroviral Digital Commmunications.

The deal results in Retroviral becoming a subsidiary of Bidvest Media, signalling the company's foray into the digital marketing sector. Bidvest Media has a 100% stake in MSCSPORTS, an integrated sports marketing and sponsorship agency, Create, and an airport media company, with Retroviral its second media and marketing acquisition.

Retroviral co-founder Mike Sharman retains an interest in the company, and is committed to remain at its helm. His entire team moves under the Bidvest Media umbrella with him, ensuring job security for employees. Meanwhile, Retroviral co-founder Murray Legg has exited his stake and the operational role of the business.

"Retroviral is a proudly South African company. The acquisition opportunity from Bidvest Media offered us the best of both worlds as we remain a world-class, African entity, with added capacity to expand internationally where the Bidvest Group has a presence," says Sharman.

The Bidvest Media division is a rapidly expanding entity within the Bidvest Group, and is targeting further growth in the coming months and years, says Bidvest Media CEO Neil Jankelowitz.

"The acquisition of the majority stake in Retroviral is a strategic investment as Retroviral has the capabilities to offer digital marketing services to the entire Bidvest Group."

Jankelowitz adds Bidvest is an entrepreneur-centric organisation, and strives to invest in diverse companies that offer unique value propositions.

"Retroviral will continue to provide its creative digital marketing services to brands across the local market, as well as to other brands within the international Bidvest group of companies."

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