BlueGem, Value Italy reduce stake in DigitalGo

Unquote understands that the deal is valued in the €20m region.

The GPs will retain a combined 49% stake in the business – 26% controlled by BlueGem and 23% by Value Italy – and will continue to support the management.

Following this new acquisition and the integration of DigitalGo, Softlab expects to reach turnover of around €100m by the end of 2020.

BlueGem and Value Italy acquired DigitalGo, at the time known as Neomobile, in September 2009. Value Italy invested via its MPS Venture II fund, which held a final close on €150m in 2007. The GP told Unquote that the fund is entirely deployed and a new vehicle will be launched in the coming months.

BlueGem invested in DigitalGo through its €205m BlueGem I vehicle. The GP raised BlueGem Secondary Fund in June 2018 in order to transfer the remaining assets in the portfolio of its first vehicle. The fund restructuring was backed by Glendower Capital, a spinout from Deutsche Bank's secondaries private equity business.

Company
Established as Neomobile in 2007 and subsequently rebranded in 2017, DigitalGo is a digital marketing provider that specialises in customer engagement and communication, digital campaign design and production, social media management, digital customer care and data management and analytics.

The company is headquartered in Rome, employs 80 people across seven offices and has a presence in 16 countries worldwide. It generated revenues of around €22m in 2018.

People
Value Italy – Marco Canale (CEO).
BlueGem Capital Partners – Emilio Di Spezio Sardo (co-founder, partner).
Softlab – Giovanni Casto (CEO).

Advisers
Acquirer – Allen & Overy (legal).
Vendors – Gianni Origoni & Partners (legal).

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• Topics
• Exits
• Southern Europe
• Media
• BlueGem Capital Partners
• Value Italy
• Italy
• Partial sale