BGF exits The Exchange Lab in trade sale

Financial details surrounding the exit, which was managed by DC Advisory, remain undisclosed for the time being. The Exchange Lab will be integrated into WPP's GroupM subsidiary.

BGF invested £5m in The Exchange Lab in 2013, securing a minority stake in the business. The capital was used to develop the company's technology and to finance an expansion plan across the North American market.

BGF, which has now deployed £650m out of its £2.5bn war chest, has begun divesting some of its holdings in 2015. Earlier this year, the investor was among several backers exiting adversiting platform Unruly via a £114m trade sale to Newscorp.

Company
The Exchange Lab is a programmatic digital media marketplace established in 2007 by CEO James Aitken and CSO Tim Webster. The company delivers campaigns across digital displays, video, social media and mobile channels. It then analyses audience interaction to pinpoint the most suitable audience at the most cost-effective price.

People
Chris Hodges led BGF's initial investment in The Exchange Lab and served as non-executive director - he will step down from the board following BGF's exit.

Advisers
Vendor, company - DC Advisory (Corporate finance); Taylor Wessing (Legal).

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• Topics
• Exits
• UK / Ireland
• Media
• BGF (Business Growth Fund)
• Trade sale