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Case Study
DA Group plc
- The initial fund raising for DA Group (formerly Digital Animations) in 1995 was the subject of ASL's fastest ever deal - less than 4 weeks. Since then ASL has helped raise nearly £14m for the computer animation and technology specialist.
- ASL attended a DA presentation, (the company was then focused on architectural fly-throughs) and came away intrigued by the potential of its still embryonic idea for a possible game incorporating artificial intelligence.
- In 1995, the games industry was only just beginning to expand and ASL instantly recognised the potential of DA's expertise to the market. After further discussions, DA appointed ASL to raise funds to develop is games technology. With the experience and knowledge of the issues involved, ASL helped develop the business plan and quickly engaged the interest of 3i. In less than 4 weeks of its appointment, ASL had secured £285,000 for the up-coming company.
- With Derek Douglas now appointed non-executive chairman of the DA Group (DAG), ASL then advised the company in its placing and admission to AIM in July 1996. At this time, DAG intended to develop games for the interactive entertainment market. With the interest in computer games and online gaming now rising, ASL's advice that AIM instantly gave the young company a profile and added business discipline proved fruitful with the share issue raising net proceeds of £1.65m. Working with the founders, ASL also built up the board of directors with the appointment of music and games publisher Geoff Heath.
- Over the next three years, DA Group developed both its animation and technology skills. In April 2000, when technology stocks were beginning to face investor uncertainty, DA Group with ASL, attracted the confidence of the city to raise nearly £12m for the company's expansion. DA Group is now recognised the world over for the creation of Ananova, the world's first virtual newscaster.
- Derek Douglas resigned as non executive chairman of DA Group in 2001.
www.dagroupplc.com
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