Platforms

  1. Digital M&A
  2. Private Capital & Co-Investments
  3. Strategic Advisory

Sectors

  1. Enterprise Technology
  2. Digital Services
  3. Digital Health & Life Sciences

Digital M&A

Strategic Sale

Sales to global strategic buyers, taking a great business to the next level. Successful venture capital exits.

Buy & Build Initiatives

Platform acquisitions, add- ons, and roll-ups, led by visionary teams and backed by investors executing on a sector strategy.

Digital Acquisitions

Targeted acquisitions to expand the product range and add new capabilities, to buy time, and accelerate growth.

Technology Buy-outs

Private equity firms partnering with management teams to drive growth and create value for all stakeholders.

Carve-outs & Divestitures

Corporate carve-outs, aligning capital structure with growth and investment trajectories of emerging business units.

Our Leaders

Philipp Kobus

Managing Partner

Founder of our firm and working with entrepreneurs, senior management and boards on digital strategy and M&A initiatives.

> View profile

Christoph With

Partner and Lead, Digital M&A

Working with established and emerging telecoms, media and technology companies in Europe and the U.S. Formerly with Broadview International, now part of Jefferies & Co.

> View profile

Christian Thun-Hohenstein

Senior Advisor

Advising large-cap and pre-IPO technology companies. Formerly in senior EMEA and global leadership roles at Haitong, Nomura, and Deutsche Bank.

> View profile
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Digital M&A
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Digital M&A2022

AB Tasty acquires AI-driven personalization provider Epoq

Fraser acted as exclusive financial advisor to epoq internet services GmbH.
> Learn more
Digital M&A2022

SYZYGY acquires remaining interest in diffferent GmbH

Fraser advised diffferent on its acquisition by SYZYGY (FRA: SYZ).
> Learn more
Private Capital & Co-Investments2022

The Landbanking Group concludes financing round and expands leadership team

Fraser acted as financial advisor to the founders.
> Learn more
Private Capital & Co-Investments2022

Therapixel raises €15M Series B financing

Fraser acted as placement agent to the issuer.
> Learn more
Private Capital & Co-Investments2021

PathoQuest closes €15M Series B led by SHS

Fraser advised PathoQuest on the transaction, following our earlier work 2018-20.
> Learn more
Private Capital & Co-Investments2021

Strategic acquisition strengthens Tremor's CTV & video technology stack

Fraser invested in Spearad's Seed financing round in 2020.
> Learn more
Digital M&A2021

SYSTEMIQ completes capital transaction for next phase of impact delivery

The successful capital raise and organisational changes will enable SYSTEMIQ to scale up its contribution to building a prosperous, socially just, resilient, net-zero and nature-positive economy.

Existing investors including Dara Holdings, Deutsche Post Stiftung, the Jeremy and Hannelore Grantham Environmental Trust, André Hoffmann, co-founders of Nordic Real Estate Partners (NREP), and Paul Polman have reinvested in the company. And two new investors have joined: Swiss asset manager Lombard Odier Group and the family office of the German construction company Goldbeck.

> Learn more
Strategic Advisory2021

Rockley Photonics completes combination with SC Health Corp.

Fraser advised on strategic investor engagement ahead of SPAC transaction.
> Learn more
Digital M&A2021

Otsuka enters collaboration with Holmusk on digital health analytics

Fraser advised Otsuka on the transfer of Otsuka Healthcare Solutions assets in the UK.
> Learn more
Private Capital & Co-Investments2021

Incision raises €5M for surgical training platform

Fraser advised category-leader Incision on its Series A financing.
> Learn more
Private Capital & Co-Investments2020

Fraser makes early commitment to Spearad

We participated in the round following our work with the team at ADTECH AG (NYSE: VZ).
> Learn more
Private Capital & Co-Investments2020

Charles River and PathoQuest strengthen partnership

Fraser advised PathoQuest on the transaction, following our earlier work 2018-19.
> Learn more
Digital M&A2020

m-pathy has been acquired by Verint Systems

Fraser advised m-pathy GmbH on its acquisition by Verint (Nasdaq: VRNT).
> Learn more
Private Capital & Co-Investments2021

Tessian raises $65M to advance security at the human layer

The Series C round was led by March Capital alongside existing investors Balderton, Latitude, Sequoia Capital and Accel, and new investor Schroder Adveq. With the new funding, Tessian will expand its platform’s capabilities, helping companies replace their secure email gateways and legacy data loss prevention solutions.

Fraser, through its partners and affiliates, made an early commitment to Tessian, participating in pre-Seed, Seed and Series A rounds, and serving on the Company’s board 2015-16.

> Learn more
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Strategic Advisory2019

Exploring growth alternatives for emerging data science vendor

We worked with the board to explore financing alternatives for international expansion.
> Strategic Advisory
Private Capital & Co-Investments2019

PathoQuest raises $9M Series A led by Norgine

Fraser acted as sole placement agent to the issuer.
> Learn more
Strategic Advisory2019

Reviewing alternatives with B2B commerce vendor

Fraser advised the founder and senior mgmt on strategic alternatives and opportunities.
> Strategic Advisory
Digital M&A2019

Baxter acquires Glysure glucose monitoring

We advised GlySure Ltd. in relation to the transaction with Baxter (NYSE: BAX).
> Learn more
Private Capital & Co-Investments2019

Tessian raises $42M Series B led by Sequoia

Fraser invested early in Tessian through Seed and Series A rounds.
> Learn more
Private Capital & Co-Investments2018

Lumeon raises $28M Series C led by LSP

Fraser acted as placement agent to the issuer.
> Learn more
Digital M&A2017

SYZYGY, backed by WPP, acquires leading strategy firm diffferent

Fraser has acted as financial advisor to diffferent GmbH, one of the most progressive strategy consulting firms in Germany, on its acquisition by SYZYGY AG (FRA: SYZ), part of WPP (LON: WPP).

diffferent provides support for its clients on brand positioning, innovative service and business models, and making teams agile and fit for the future and has been a long-standing partner to Volkswagen Group, Deutsche Telekom, Porsche, MTU, EnBW and IKEA.

> Learn more
Strategic Advisory2018

Navigating opportunities in e-commerce AI

We helped take stock of business objectives and opportunities.
> Strategic Advisory
Private Capital & Co-Investments2018

Clinical Genomics closes $26M financing round

Fraser advised Clinical Genomics in relation to the financing.
> Learn more
Private Capital & Co-Investments2018

Charles River and PathoQuest expand partnership

Fraser acted as sole placement agent to the issuer.
> Learn more
Strategic Advisory2017

Building strategic alternatives for the leading Nordic DMP

We worked with the board on evaluating growth financing alternatives.
> Strategic Advisory
Strategic Advisory2017

Aligning strategy and M&A for customer experience leader

Fraser provided shareholder advisory services.
> Strategic Advisory
Digital M&A2017

FUNKE makes strategic investment in prettysocial

Engagement with prettysocial followed our work with the team at ADTECH AG (NYSE: VZ).
> Learn more
Digital M&A2016

Episerver, backed by Accel-KKR, acquires Optivo GmbH

Fraser has acted as financial advisor to Episerver AB, the global leader in customer-centric digital experience software, on its acquisition of optivo GmbH from Deutsche Post DHL (FRA: DPW).

Leveraging Optivo’s omnichannel campaign management capabilities, Episerver customers can now create and execute more contextually relevant customer interactions across channels, ensuring that the right message is sent to the right customer when and where it should.

> Learn more
Private Capital & Co-Investments2017

Lumeon raises debt financing led by IPF

Fraser acted as placement agent to the issuer
> Learn more
Strategic Advisory2016

Board advisory to pioneering customer intelligence vendor

Fraser provided strategic advisory services.
> Strategic Advisory
Private Capital & Co-Investments2016

Mint Solutions raises Series B financing

Fraser advised Mint Solutions ("MedEye") on its Series B.
> Learn more
Private Capital & Co-Investments2016

ExThera closes $15M Series B led by Fresenius

Fraser advised ExThera on its Series B led by Fresenius (FRA: FRE).
> Learn more
Digital M&A2016

ADTZ acquires Glow Digital Media to form Adglow

Fraser advised ADTZ on the acquisition of Glow and related financing.
> Learn more
Private Capital & Co-Investments2015

Fraser makes early commitment to Tessian

We made an investment at Seed stage and joined the Company's board.
> Learn more
Digital M&A2014

Dentsu acquires explido to form explido-iProspect

Fraser has acted as exclusive financial advisor to explido GmbH & Co. KG, the leading performance agency in Germany, on its acquisition by Dentsu Aegis Network (TSE: Dentsu).

With offices in Augsburg, Hamburg and Frankfurt, explido provides a full range of capabilities in search marketing, affiliate marketing, display advertising, web development and conversion optimisation. On completion of the transaction, explido will be integrated into the existing iProspect business, forming part of Dentsu Aegis Network in Germany.

> Learn more
Private Capital & Co-Investments2015

Lumeon secures $9M in Series B funding

Fraser acted as placement agent for Amadeus Capital-backed Lumeon Ltd.
> Learn more
Digital M&A2015

ProSiebenSat.1 builds out AMPYA video platform

Fraser advised TVRL GmbH on its acquisition by ProSiebenSat.1 Media SE (FRA: PSM).
> Learn more
Digital M&A2014

Bastei Lübbe acquires self-publishing platform BookRix

Fraser advised BookRix in relation to the acquisition by Bastei Lübbe.
> Learn more
Digital M&A2013

Deutsche Post DHL acquires Optivo

Fraser advised market leader Optivo on its acquisition by Deutsche Post DHL (FRA: DPW).
> Learn more
Digital M&A2013

Webster Equity Partners acquires Best Friends

Our team advised Best Friends Pet Care Inc. in relation to the MBI backed by Webster.
> Learn more
Private Capital & Co-Investments2012

F2G completes $30M financing led by Novartis

Fraser advised biotech pioneer F2G Ltd. in relation to the growth financing.
> Learn more
Private Capital & Co-Investments2011

UDG United Digital Group formed with backing from EQT

Fraser has acted as exclusive financial advisor to UDG United Digital Group GmbH on its acquisition of nine digital communications and marketing agencies to form the leading digital marketing group in Germany. The new combined group includes Bassier, Bergmann und Kindler Group, eWolff, Jaron, kmf Group, MP Newmedia, New Identity AG, Nonstop Consulting, SF eBusiness, and SUMO, and will have pro forma sales of around EUR 89 million. It will be headquartered in Hamburg and employ around 500 people.

The transaction was sponsored by EQT Expansion Capital.

> Learn more
Private Capital & Co-Investments2011

Pole Star raises Series B financing for U.S. expansion

Fraser acted as sole placement agent for Pole Star S.A. on the transaction.
> Learn more
Digital M&A2011

UDG has acquired Bassier, Bergmann & Kindler

Fraser advised UDG on the acquisition of BB&K.
> Learn more
Digital M&A2011

Performance marketing specialist e-Wolff joins UDG

We advised UDG on the acquisition of e-Wolff.
> Learn more
Digital M&A2011

Jaron joins United Digital Group

We advised UDG on the acquisition of Jaron.
> Learn more
Digital M&A2011

UDG has acquired KMF

We advised UDG on the acquisition of KMF.
> Learn more
Digital M&A2011

M, P, NewMedia joins UDG United Digital Group

We advised UDG on the acquisition of M, P, NewMedia GmbH.
> Learn more
Private Capital & Co-Investments2010

Hearst acquires digital marketing services provider iCrossing

Fraser has acted as financial advisor to certain shareholders of iCrossing, Inc., one of the largest independent digital marketing services providers in the world, on its acquisition by Hearst Corporation. The acquisition gives Hearst extensive digital marketing capabilities, including paid search, SEO, social marketing, and data analytics.

Fraser previously advised 3GNet GmbH, a leading search marketing agency in Germany, on its acquisition by iCrossing, Inc.

> Learn more
Digital M&A2011

UDG acquires New Identity AG

We advised UDG on the acquisition of NIAG.
> Learn more
Digital M&A2011

Nonstop joins forces to create digital marketing leader

Fraser advised UDG on the acquisition of affiliate marketing leader nonstop Consulting.
> Learn more
Digital M&A2011

UDG acquires SF eBusiness

We advised UDG on the acquisition of Stoll & Fischbach eBusiness.
> Learn more
Digital M&A2011

UDG acquires organic search specialist SUMO

We advised UDG on the acquisition of SUMO GmbH.
> Learn more
Digital M&A2010

Deutsche Post DHL acquires nugg.ad AG

We advised nugg.ad AG on its trailblazing acquisition by Deutsche Post DHL (FRA: DPW).
> Learn more
Strategic Advisory2009

Developing alternatives with leading IPTV provider

Fraser advised the board on financing alternatives and investor engagement.
> Strategic Advisory
Digital M&A2008

iCrossing expands to Germany

Fraser has acted as exclusive financial advisor to 3GNet GmbH, a leading search marketing agency in Germany, on its acquisition by iCrossing, Inc. The acquisition extends iCrossing’s leadership in the U.S. and U.K. into the pan-European market, further establishing the company’s global footprint and client base.

One of the longest established digital marketing providers in Germany, 3GNet provides natural and paid search marketing as well as affiliate marketing services to a number of global brands, including eBay and ESPRIT.

> Learn more
Strategic Advisory2008

Crafting M&A strategy for digital advertising network

We advised the board on digital M&A priorities and target visibility.
> Strategic Advisory
Digital M&A2008

YorkPharma acquires Flammazine from Solvay

Fraser advised York Pharma PLC on the acquisition.
> Learn more
Private Capital & Co-Investments2007

Clearplay raises growth financing

Fraser acted as sole placement agent for Clearplay International.
> Learn more
Strategic Advisory2008

Reviewing M&A priorities for digital media client

Fraser advised the board on digital M&A priorities, target visibility and engagement.
> Strategic Advisory
Private Capital & Co-Investments2007

Toplink raises growth financing for cloud services

Fraser acted as sole placement agent to the issuer.
> Learn more
Digital M&A2007

AOL takes full control of ADTECH AG

Fraser advised AOL on acquiring remaining minority holdings in ADTECH AG.
> Learn more
Digital M&A2007

AOL acquires ADTECH AG

Fraser has acted as exclusive financial advisor to ADTECH AG, the leading international ad serving provider, on its acquisition by AOL LLC. The acquisition provides AOL with an advanced ad-serving platform that includes an array of ad management and delivery applications enabling website publishers to manage, traffic and report on their online advertising campaigns.

ADTECH will operate as an independent and majority-controlled subsidiary of AOL’s Advertising.com division.

> Learn more
Strategic Advisory2005

Developing M&A alternatives for leading affiliate network

Fraser advised DGM on target visibility and engagement in France and Germany.
> Strategic Advisory
Digital M&A2005

Kingstreet Media has acquired major music catalogues

We advised Kingstreet Media Group and acted as sole placement agent.
Private Capital & Co-Investments2005

Travel24.com AG completes convertible bond issue

Fraser advised Travel24.com AG in relation to capital measures.
Private Capital & Co-Investments2005

Wapme Systems AG completes PIPE transaction

Fraser advised Wapme on structured PIPE transaction.
Digital M&A2022

AB Tasty acquires AI-driven personalization provider Epoq

Fraser acted as exclusive financial advisor to epoq internet services GmbH.
> Learn more
Digital M&A2022

SYZYGY acquires remaining interest in diffferent GmbH

Fraser advised diffferent on its acquisition by SYZYGY (FRA: SYZ).
> Learn more
Digital M&A2021

SYSTEMIQ completes capital transaction for next phase of impact delivery

Fraser acted as exclusive financial advisor to SYSTEMIQ Ltd.
> Learn more
Private Capital & Co-Investments2021

Strategic acquisition strengthens Tremor's CTV & video technology stack

Fraser invested in Spearad's Seed financing round in 2020.
> Learn more
Digital M&A2021

Otsuka enters collaboration with Holmusk on digital health analytics

Fraser advised Otsuka on the transfer of Otsuka Healthcare Solutions assets in the UK.
> Learn more
Digital M&A2020

m-pathy has been acquired by Verint Systems

Fraser advised m-pathy GmbH on its acquisition by Verint (Nasdaq: VRNT).
> Learn more
Digital M&A2017

SYZYGY, backed by WPP, acquires leading strategy firm diffferent

Fraser has acted as financial advisor to diffferent GmbH, one of the most progressive strategy consulting firms in Germany, on its acquisition by SYZYGY AG (FRA: SYZ), part of WPP (LON: WPP).

diffferent provides support for its clients on brand positioning, innovative service and business models, and making teams agile and fit for the future and has been a long-standing partner to Volkswagen Group, Deutsche Telekom, Porsche, MTU, EnBW and IKEA.

> Learn more
Digital M&A2019

Baxter acquires Glysure glucose monitoring

We advised GlySure Ltd. in relation to the transaction with Baxter (NYSE: BAX).
> Learn more
Digital M&A2017

FUNKE makes strategic investment in prettysocial

Engagement with prettysocial followed our work with the team at ADTECH AG (NYSE: VZ).
> Learn more
Digital M&A2016

Episerver, backed by Accel-KKR, acquires Optivo GmbH

We advised Episerver on the acquisition of Optivo.
> Learn more
Digital M&A2016

ADTZ acquires Glow Digital Media to form Adglow

Fraser advised ADTZ on the acquisition of Glow and related financing.
> Learn more
Digital M&A2015

ProSiebenSat.1 builds out AMPYA video platform

Fraser advised TVRL GmbH on its acquisition by ProSiebenSat.1 Media SE (FRA: PSM).
> Learn more
Digital M&A2014

Bastei Lübbe acquires self-publishing platform BookRix

Fraser advised BookRix in relation to the acquisition by Bastei Lübbe.
> Learn more
Digital M&A2014

Dentsu acquires explido to form explido-iProspect

Fraser has acted as exclusive financial advisor to explido GmbH & Co. KG, the leading performance agency in Germany, on its acquisition by Dentsu Aegis Network (TSE: Dentsu).

With offices in Augsburg, Hamburg and Frankfurt, explido provides a full range of capabilities in search marketing, affiliate marketing, display advertising, web development and conversion optimisation. On completion of the transaction, explido will be integrated into the existing iProspect business, forming part of Dentsu Aegis Network in Germany.

> Learn more
See more
See less
Digital M&A2013

Deutsche Post DHL acquires Optivo

Fraser advised market leader Optivo on its acquisition by Deutsche Post DHL (FRA: DPW).
> Learn more
Digital M&A2013

Webster Equity Partners acquires Best Friends

Our team advised Best Friends Pet Care Inc. in relation to the MBI backed by Webster.
> Learn more
Digital M&A2011

UDG has acquired Bassier, Bergmann & Kindler

Fraser advised UDG on the acquisition of BB&K.
> Learn more
Digital M&A2011

Performance marketing specialist e-Wolff joins UDG

We advised UDG on the acquisition of e-Wolff.
> Learn more
Digital M&A2011

Jaron joins United Digital Group

We advised UDG on the acquisition of Jaron.
> Learn more
Digital M&A2011

UDG has acquired KMF

We advised UDG on the acquisition of KMF.
> Learn more
Private Capital & Co-Investments2011

UDG United Digital Group formed with backing from EQT

Fraser has acted as exclusive financial advisor to UDG United Digital Group GmbH on its acquisition of nine digital communications and marketing agencies to form the leading digital marketing group in Germany. The new combined group includes Bassier, Bergmann und Kindler Group, eWolff, Jaron, kmf Group, MP Newmedia, New Identity AG, Nonstop Consulting, SF eBusiness, and SUMO, and will have pro forma sales of around EUR 89 million. It will be headquartered in Hamburg and employ around 500 people.

The transaction was sponsored by EQT Expansion Capital.

> Learn more
Digital M&A2011

M, P, NewMedia joins UDG United Digital Group

We advised UDG on the acquisition of M, P, NewMedia GmbH.
> Learn more
Digital M&A2011

UDG acquires New Identity AG

We advised UDG on the acquisition of NIAG.
> Learn more
Digital M&A2011

Nonstop joins forces to create digital marketing leader

Fraser advised UDG on the acquisition of affiliate marketing leader nonstop Consulting.
> Learn more
Digital M&A2011

UDG acquires SF eBusiness

We advised UDG on the acquisition of Stoll & Fischbach eBusiness.
> Learn more
Digital M&A2011

UDG acquires organic search specialist SUMO

We advised UDG on the acquisition of SUMO GmbH.
> Learn more
Digital M&A2010

Deutsche Post DHL acquires nugg.ad AG

We advised nugg.ad AG on its trailblazing acquisition by Deutsche Post DHL (FRA: DPW).
> Learn more
Private Capital & Co-Investments2010

Hearst acquires digital marketing services provider iCrossing

Fraser has acted as financial advisor to certain shareholders of iCrossing, Inc., one of the largest independent digital marketing services providers in the world, on its acquisition by Hearst Corporation. The acquisition gives Hearst extensive digital marketing capabilities, including paid search, SEO, social marketing, and data analytics.

Fraser previously advised 3GNet GmbH, a leading search marketing agency in Germany, on its acquisition by iCrossing, Inc.

> Learn more
Digital M&A2008

YorkPharma acquires Flammazine from Solvay

Fraser advised York Pharma PLC on the acquisition.
> Learn more
Digital M&A2008

iCrossing expands to Germany

We advised 3GNet GmbH on its acquisition by iCrossing Inc., backed by Goldman Sachs and Oak.
> Learn more
Digital M&A2007

AOL takes full control of ADTECH AG

Fraser advised AOL on acquiring remaining minority holdings in ADTECH AG.
> Learn more
Digital M&A2007

AOL acquires ADTECH AG

Fraser advised ADTECH AG on this landscape changing acquisition by AOL.
> Learn more
Digital M&A2005

Kingstreet Media has acquired major music catalogues

We advised Kingstreet Media Group and acted as sole placement agent.