M&A Deal Summary

T-Mobile US Acquires Blis

On March 5, 2025, T-Mobile US acquired marketing company Blis from LDC and Maven Capital Partners for 175M USD

Acquisition Highlights
  • This is T-Mobile US’s 3rd transaction in the Marketing sector.
  • This is T-Mobile US’s 7th largest (disclosed) transaction.
  • This is T-Mobile US’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2025-03-05
Target Blis
Sector Marketing
Buyer(s) T-Mobile US
Sellers(s) LDC
Maven Capital Partners
Deal Type Add-on Acquisition
Deal Value 175M USD
Advisor(s) Houlihan Lokey (Financial)
DLA Piper (Legal)

Target

Blis

London, United Kingdom
Blis is an advertising technology company that uses location and demographic data to define digital audiences. Blis provides the most accurate location data and rich contextualized consumer behavioral insights for advertisers. Blis was founded in 2004 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

T-Mobile US

Bellevue, Washington, United States

Category Company
Founded 1944
Sector Communications
Employees67,000
Revenue 81.4B USD (2024)
DESCRIPTION
T-Mobile office in Parsippany, New Jersey.
T-Mobile office in Parsippany, New Jersey.

T-Mobile US provides wireless communications services, including voice, messaging and data to customers in the postpaid, prepaid, and wholesale markets. The company provides services, devices and accessories across its brands, T-Mobile and MetroPCS, through Company owned and operated retail stores, third party distributors and its websites. T-Mobile US was founded in 1994 and is based in Bellevue, Washington.


DEAL STATS #
Overall 14 of 14
Sector (Marketing) 3 of 3
Type (Add-on Acquisition) 10 of 10
Country (United Kingdom) 1 of 1
Year (2025) 2 of 2
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-13 Vistar Media

New York, New York, United States

Vistar Media is a provider of advertising technology services to the digital out-of-home industry. Vistar Media was founded in 2011 and is based in New York, New York.

Buy $600M

Seller(S) 2

SELLER

LDC

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 3.6B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LDC is the private equity and investment arm of Lloyds Banking Group. LDC invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. LDC was formed in 1981 and is based in London.


DEAL STATS #
Overall 202 of 202
Sector (Marketing) 4 of 4
Type (Add-on Acquisition) 95 of 95
Country (United Kingdom) 196 of 196
Year (2025) 3 of 3
Size (of disclosed) 14 of 62
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-04 HSL Compliance

Herefordshire, United Kingdom

HSL Compliance specializes in water, hazardous materials, fire safety, and associated health, safety, and environmental services. HSL Compliance was founded in 1976 and is based in Herefordshire, United Kingdom.

Sell -
SELLER

Maven Capital Partners

Glasgow, United Kingdom

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2009
PE ASSETS 415M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Maven Capital Partners UK LLP (MCP) invests in lower mid-market companies throughout the UK. The Firm also provides mezzanine financing. MCP focuses on profitable companies with proven track records, balanced management teams, and diverse products and services. Maven looks to invest £2 - £10 million in businesses valued from £5 - £25 million. Sectors of interest include specialist manufacturing, health/pharmaceuticals, energy services, leisure, financial services, software and computer services, communication/IT, chemicals, food/beverage, media, consumer products, and support services. Types of transactions include MBOs, MBIs, BIMBOs, take privates, recapitalizations, and growth capital financings. Maven Capital Partners UK LLP was formed in 2009, following a management buyout of Aberdeen Asset Management's Private Equity division. Maven is based in Glasgow with additional offices in Aberdeen, Birmingham, Edinburgh, London and Manchester.


DEAL STATS #
Overall 79 of 79
Sector (Marketing) 2 of 2
Type (Add-on Acquisition) 37 of 37
Country (United Kingdom) 77 of 77
Year (2025) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-25 QikServe

Edinburgh, United Kingdom

QikServe is a provider of cloud-based platform that enables customers to discover restaurants, check-in to tables, browse menus, place orders, save and redeem loyalty points or vouchers, and pay their bill directly from their mobile phone or tablet. QikServe was founded in 2011 and is based in Edinburgh, United Kingdom.

Sell -