Slaughter and May advised ITV plc on the deal.
what3words is a uniquely accessible location service, which has divided the world into a grid of 3m squares, giving each its own three word identifier: a what3words address. ITV is acquiring a minority stake valued at £2 million in return for advertising inventory, with an option to invest a further £2 million.
This is ITV’s first investment under its new Media for Equity programme, through which ITV will take minority stakes in early stage digital and direct-to-consumer businesses in return for advertising inventory across ITV’s channels and the ITV Hub.
Slaughter and May supported the in-house legal and commercial teams at ITV, led by Georgina Ball (Head of Legal, Corporate), Niko Waesche and Lizzy Crabb.
Slaughter and May’s Paul Dickson (Picture), Partner, Katie Kershaw, Associate and Charlotte Eynon, Associate
Law Firms: Slaughter and May;
Clients: ITV plc;