OMP is the holding company for digital marketing agency Oomph Agency Services, which works closely with Talking Analytics, the data analytics subsidiary that sits within Cello's direct marketing platform.
Cello's initial investment is in the form of a convertible loan of up to 拢130,000. The company also has the option to acquire 50.1% of the issued share capital of OMP before December 2008 for a consideration of 拢300,000 minus the balance of the loan.
"Cello already has a strong footprint in the digital marketing world, in a range of applications," Cello chief executive Mark Scott said. "OMP is the first of a number of developments, which will strengthen our existing digital capabilities."
The remaining 49.9% of OMP is also up for grabs by Cello, which is headed by chairman Kevin Steeds, although this is based on OMP's financial performance. The acquisition of this stake would be at a maximum cost of 拢1.5m, 75% of which would be payable in Cello ordinary shares.
Oomph was set up in 2005 by Stephen Priestnall and Rodger Williams and has clients including Co-operative Financial Services.
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