S4 Capital's subsidiary MightyHive merges with Metric Theory

Deal typeCapital markets & Transaction Services
IndustryTechnology & Media
Client nameS4 Capital Plc

BDO provided financial and tax diligence, SPA advice and tax structuring on S4 Capital's subsidiary 
MightyHive’s merger with Metric Theory.

Metric Theory, founded in 2012 by four ex-colleagues Ken Baker, Jeff Buenrostro, Jeremy Brown and Adam Edwards, is an integrated performance marketing agency providing services across search, social media and commerce media. Using data-driven strategies to provide highly measurable and effective results for B2C and B2B clients such as Gofundme, Zenefits, Very Great, Maisonette and Hill House Home, Metric Theory has over 130 people across San Francisco, Denver, New York and Orange County.

The merger further adds to MightyHive’s recently-launched data practice, adding deep probabilistic attribution expertise to its experienced and rapidly-growing team. 

“We at the growth team at S4 Capital plc appreciate the advice and guidance provided by BDO LLP across financial and tax workstreams, led by Conor, Brad and Ross.  They and their teams showed dedication and a depth of knowledge to support us in our recent mergers with Decoded and Metric Theory in the US.  We are delighted to welcome these two new exciting businesses into our group and using BDO’s globally specialised team to assist us in their seamless integration.  Hopefully this is the start of another productive and successful year in our relationship!”

Scott Spirit, Chief Growth Officer, S4 Capital plc

“What a way to end 2020 and start 2021, closing out two really interesting transactions with our client S4 Capital plc.  As always, we really enjoyed working with the teams at S4, while also getting to meet their newest partners in Decoded and Metric Theory.  The role of digital marketing became even more important over the last nine months and S4, together with its subsidiaries MightyHive and MediaMonks, are really well positioned to lead this market.  We look forward to helping them continue their growth story.”

Conor Lambert, Corporate Finance Partner, BDO LLP