Durrant Pate/Contributor

With the return of founder Tyrone Wilson back on board, iCreate Limited has gotten financial backing from an investment group, which acquired 30 per cent stake in subsidiary, Visual Vibe.com.

iCreate announced the sale of a 30 per cent stake in Visual Vibes.Com to a strategic investment group involving Anthony Dunn, one of the newly installed directors at last week’s annual general meeting in Kingston. In addition to acquiring the stake in Visual Vibes, the yet-to-be-disclosed group is said to have committed to supporting iCreate in its growth plans with further working capital. 

This strategic investment has reportedly 100 per cent cleared with the original owners of Visual Vibe.com Limited. As result of the acquisition, Dunn will be appointed to the board of Visual Vibes and will play a leading role in spearheading strategic plans that will ultimately unlock value for the shareholders of Visual Vibes.Com Limited and iCreate. 

Stage set for innovation and expansion

This strategic partnership marks a pivotal moment in the trajectory of both iCreate and Visual Vibes.Com, setting the stage for innovation, expansion, and increased shareholder value

In commenting on the transaction, Dunn states “we welcome the opportunity to partner with iCreate on this acquisition. Visual Vibes.Com Limited is the brainchild of former owner, Aldrick ‘Ali’ McNab and we saw significant value in positioning Visual Vibes for further growth and value creation. Ali and the team have done a great job in growing the company and we believe the timing is good to further scale and unlock value from this great company for the benefit of all stakeholders.” 

For his part Wilson, who has returned as iCreate’s CEO following his resignation three months ago, remarks, “we have been diligently working on this partnership, and I am delighted to announce its successful conclusion”.

“The infusion of funds from this strategic group is timely as it now paves the way for the accelerated growth of Visual Vibes.Com and will allow the company to expand its client base and digital offerings with greater footprint. As we move forward, we are exploring several strategic initiatives that we believe in the medium term will be in the best interest of our shareholders,” added Wilson. 

As part of the arrangement, Dunn has also join the iCreate Board. He has also committed to supporting iCreate to ensure the company can return to its core operations of unlocking value through the digital and creative industries.