By Staff Writer
Bidvest Media, a division of JSE-listed group Bidvest has acquired a majority stake in Retroviral Digital Communications (Retroviral).
The acquisition results in Retroviral becoming a subsidiary of Bidvest Media, launching the company’s foray into the digital marketing sector. Bidvest Media currently has a 100% stake in MSCSPORTS, an integrated sports marketing and sponsorship agency, Create, and an airport’s 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 strategic and servicing continuity for clients and job security for employees. Retroviral’s other co-founder, Murray Legg, has exited his stake and operational role in 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.
Bidvest Media is determined to take advantage of the global trend towards the seamless integration of the physical world and digital worlds, via organic expansion and strategic acquisitions.
“The Bidvest Media division is a rapidly expanding entity within the Bidvest Group, and we’re targeting further growth in the coming months and years. 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,” says Neil Jankelowitz, CEO, Bidvest Media.
“Bidvest is an entrepreneur-centric organisation, and we strive to invest in diverse companies that offer unique value propositions,” he says. “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.”
