AO World to acquire Music Magpie
AO World is to acquire Music Magpie in a deal which values the consumer tech reseller at £9.98 million.
Under the terms of the agreement, each Music Magpie shareholder will be entitled to receive 9.07 pence per share.
AO World said the move will allow it to integrate one of the UK’s leading mobile recommerce operators into its portfolio.
Geoff Cooper, non-executive chair of AO, said: “With highly complementary business models, this acquisition will enable us to broaden our customer offerings while simultaneously advancing our sustainability objectives.
“This alignment positions us to drive growth and innovation in an increasingly environmentally-conscious market.”
The purchase is expected to complete in the first quarter of 2025. Music Magpie’s directors are unanimously recommending the offer to shareholders.
Steve Oliver, Music Magpie chief executive co-founder, said: “AO is a highly trusted consumer brand that shares our commitment to providing a first-rate service for customers.
“We welcome the opportunity to join the AO Group and believe it represents a natural custodian for Music Magpie as part of the next stage of the business’ development.”
