11th January 2021HW Fisher provides due diligence for MagiClick’s acquisition of financial services specialist Dock9

MagiClick, a leading provider of digital technology and design capabilities with a strong presence across Turkey and the MENA region, announces its acquisition of Dock9 as part of its strategy to become the leading financial services technology and digital experience agency within Europe.

MagiClick’s client roster includes more than 20 financial institutions such as HSBC, QNB, Bank Audi, First Abu Dhabi Bank, BNP Paribas TEB Securities, Metlife, Yapi Kredi, Garanti BBVA Securities, Akbank, Denizbank, and Ziraat Bank as well as other leading brands such as IKEA, Turkish Airlines, Domino’s, Turk Telekom, Mercedes-Benz, and Microsoft.

MagiClick has been named as a fast-growing technology company in the Deloitte Technology Fast 50 program – ten times. Their work has received widespread recognition internationally, having won accolades at the BAI Global Innovation Awards, Global Finance Awards, Efma, Global Banking & Finance Review, IR Global Rankings, and The Stevies, among others.

Dock9 is a London-based specialist digital solutions agency with a mission to build next-generation digital products for visionary financial services brands. It has worked for clients including Aetna, Arch Insurance, Assurant, Castle Trust Bank, Kensington Mortgages, Masthaven Bank, Protect Your Bubble, Twenty7Tec, Tradex, Vida Homeloans, and Virgin Money.

The acquisition grows the MagiClick headcount to over 160 employees working across three offices in London, Istanbul, and Dubai.

Murat Kalaora and Renée Tiyano, Founding Partners at MagiClick, said:

“As one of the few digital agencies in the world with deep expertise in the banking & finance industry, we recognised that Dock9 would be a great fit with us – they are the right size to benefit from being part of a larger group, they share our focus on financial services and have a solid client base. Their expertise in Umbraco, Sitefinity, and Kentico will also be complementary to our existing offerings. We were really impressed by the quality of their work and the talent of the team led by the company’s incredibly passionate founder Mark Lusted. We are looking forward to growing the company together.”

Mark Lusted, who founded Dock9 in 2008 and now moves to the role of CEO of MagiClick’s UK operations, said:

“Over the past 13 years, we have organically grown Dock9 into one of the most respected digital agencies within the financial services space, helping incumbent players innovate and hit back at the startups along the way. From the first meeting with MagiClick, we saw huge similarities in their approach, culture, and vision for the future of financial services technology. There are not many digital agencies in the world with more than a couple of banking clients, and MagiClick is unique in supporting the digital transformation of over 20 financial institutions in 7 countries. We are looking forward to combining our capabilities to offer even more innovative products to the financial services sector in the UK.”

Financial due diligence and advice on the transaction were provided to MagiClick by Helen James at HW Fisher, who said:

“It was a great pleasure to work with the MagiClick team on this transaction. MagiClick is an exciting business and the acquisition of Dock9 Limited allows it to significantly expand its reach within Europe and take it one step closer to its aim of becoming the leading financial services technology and digital experience agency in Europe.”

Find out more about financial due diligence and why it’s really necessary in a business acquisition.

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