Duale, Ovia & Alex-Adedipe advises Terragon Group in US$5 million Financing Deal

Posted on Apr 14, 2018

Duale, Ovia & Alex-Adedipe, winners of the 2017 Media and Entertainment Team of the Year by ESQ Nigerian Legal Awards, has advised Terragon, Africa’s leading mobile marketing company in a US$5 million funding round led by Africa-focused TLcom Capital with participation from other investors.

According to Terragon, the funding will be used to further develop its proprietary marketing technology which connects online and offline mobile channels to provide African brands and SMEs with more customer reach, engagement and conversions with self-service access. Terragon is pioneering the platform with Africa’s largest telco – MTN.

The Adrenaline platform from Terragon offers unprecedented reach and engagement channels for African mobile customers with associated data and intelligence as is available on mobile web.

According Terragon’s CEO, Elo Umeh, he said, “the new investment will enable the Lagos-headquartered company hire the best available talents to drive business development efforts across industry verticals and solve unique mobile challenges to unlock significant value for African businesses.”

With African businesses in various industries struggling to reach and engage customers in the face of limited internet access and low literacy levels, Terragon is helping clients including FCMB and FBNQuest in financial services; Unilever and Samsung in the consumer goods space, to connect with new and existing consumers across online and offline mobile channels providing the reach and targets to deliver on their marketing objectives.

Ido Sum, Partner at TLcom who is joining Terragon’s Board said: “We have followed Terragon closely for a while, seeing it developing into a world-class marketing technology company targeting the unique African opportunity.”

TLcom is led by Dr. Omobola Johnson, Nigeria’s former Minister of Communication Technology and it has raised US$40 million seed funds to grow technology-enabled services and entrepreneurial innovations across Africa.

Duale, Ovia & Alex-Adedipe is a bespoke full-service commercial law firm in Nigeria that provides a wide range of expert legal services to a highly diversified client base both local and international operating in various sectors of the economy. The elite firm is dedicated to the consistent delivery of highly skilled, ethical, cost effective and qualitative legal representation to its clients.

The Firm has specialist skills in the areas of Banking and Finance, Telecommunication, Media and Technology, Energy and Natural Resources, Litigation and Dispute Resolution, Real Estate and Construction. In 2017, the Firm was recognized by the Nigerian ESQ Legal Awards where the Firm was named the Team of the Year in Media and Entertainment as well as in Real Estate and Construction.