PARIS (Reuters) – Vivendi announced on Tuesday that it will invest in digital communications group Progressive Media, buying an 8.5% stake in the ZeWatchers group.
Following this transaction, ZeWatchers will own 30% of the company, while the three founders of Progressive Media, Emile Duport, David Bonhomme and Thomas Ghys, will retain 60% of the shares.
Details and financial terms of this transaction were not disclosed.
“Vivendi continues to invest in building a global content, media and communications group,” the group headed by businessman Vincent Bolloré said in a statement.
Founded in 2011, Progressive Media offers communication and web-marketing services, mainly focused on social networks.
(Dina Kartit report, edited by Blandine Hénault)
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