Media firm Hybrid snaps up rival Crisp Digital
A BRISTOL media and marketing agency has acquired a rival digital firm for an undisclosed sum. Hybrid, which specialises in education and tech, has acquired Marlow-headquartered Crisp Digital.
Crisp Digital is an AI-led, fullstack development, hosting and maintenance agency founded by Matthew Crisp. Following the deal, Mr Crisp will take on the role of director of technology at Hybrid, joining the business alongside his team of specialist developers in the UK and Nepal.
The acquisition is Hybrid’s second since it secured a £13m investment from private equity partner LDC in June 2021. Last year, the company also took over Buckinghamshire-based Prompt Marketing. Hybrid, which has education clients in offices across four continents, has also opened its first US office in Philadelphia, as well as widening its UK and Asia Pacific teams.
Chris Cammann, chief executive of Hybrid, said: “Matthew has built an incredible team at Crisp Digital and the expertise they bring to Hybrid will enable us to really enhance the services we provide to clients. This includes developing our AI strategy to better understand student behaviour and preferences and using this insight to drive campaign activity.”
Mr Crisp added: “Hybrid is a global leader in the higher education market and there’s a real opportunity for my team to help enhance the business’ service offering and support its organic growth strategy. There’s also a really strong alignment in the culture and values of our organisations, and I’m confident Hybrid is a brilliant place for the Crisp Digital team to build their careers.”
For the year ending December 31, 2023, Hybrid recorded revenues of £25m – up from £17m in 2022 and grew its headcount by 26% to 150 people globally.
Oliver Schofield, investment director at LDC, said: “The acquisition of Crisp Digital marks an important milestone for Hybrid as it further bolsters its team and expands its offering for clients.”
Alex Fergus of law firm Womble Bond Dickinson provided legal advice and Daniel Bond of Hazelwoods provided financial due diligence on the transaction.