Electric Guitar acquires data business Mymyne: COO explains 'buy-and-build' strategy

Electric Guitar PLC (AIM:ELEG) chief operating officer Richard Horwood tells Proactive's Stephen Gunnion the acquisition of Mymyne Limited is the next step in the company's buy-and-build strategy. Horwood explained that the acquisition brings crucial software and sales and marketing expertise in-house, building on the existing relationship between Mymyne and 3radical, a company already under the Electric Guitar umbrella. He highlighted that the move would lead to substantial cost savings and create synergies across Electric Guitar’s portfolio, enabling further growth and development of its strategy. Horwood also discussed the financial aspects of the deal, noting that the initial consideration of £72,000 in shares is expected to be self-financing through the cost savings and revenue generated from monetising Mymyne’s intellectual property. The transaction, involving related parties, has been independently reviewed and approved by Electric Guitar’s independent directors and nomad. Horwood emphasised that the acquisition supports Electric Guitar's broader strategy to acquire and enhance technology-based businesses by providing them with the commercial expertise to productise and monetise their offerings effectively. Visit Proactive’s YouTube channel for more videos, and don’t forget to give this video a like, subscribe to the channel, and enable notifications for future content. #ElectricGuitarPlc #MymyneAcquisition #TechStrategy #BusinessGrowth #BuyAndBuild #RichardHorwood #TechInvesting #CorporateSynergies #InvestorNews #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews