Brave Bison lifts outlook after fifth acquisition of 2025

(Sharecast News) - Marketing and tech group Brave Bison on Thursday announced the £6m acquisition of consultancy MTM London, helping it to lift its outlook for the next two years. Following new customer wins including Primark, EQT, Tottenham Hotspur FC, EA Games and Guinness World Records, and with the anticipated contribution from MTM London, Brave Bison said it expects to "exceed current market forecasts for FY25, and increases expectations for FY26" - though no firm financial guidance was given.

MTM provides commercial strategy consulting and audience insights for global tech and media brands like Google, Figma, Samsung and Spotify.

MTM, which generated £8.3m in sales last year, is expected to increase Brave Bison's FY25 pro-forma net revenue to £44m, compared with the current consensus forecast of £36.5m.

The update came as Brave Bisons reported a 19% increase in first-half revenues to £12m and a 6% rise in adjusted EBITDA to £2.3m.

"We have had a busy 2025 so far. Having not made an acquisition for almost two years, we have now announced five transactions in 2025 year to date, improving our competitive position and entering new markets with the acquisition of MiniMBA," said executive chair Oliver Green.

On a statutory basis, pre-tax profits shrank to just £0.1m from £1.2m the year before, though this was largely a result of acquisition, restructuring and integration costs associated with acquisitions.