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Lemon Asia acquires Mercatela business in Hong Kong

Hong Kong multimedia and digital technology agency Lemon (Asia) Ltd, has signed a provisional agreement to acquire the ongoing contracts and intellectual property in Hong Kong of Mercatela Ltd, the Internet agency that went into voluntary liquidation last week. "The acquisition will make it possible to rescue at least some of the Mercatela business in Hong Kong," Neil Runcieman, CEO of Lemon, confirmed today.
"Apart from our obvious interest in improving Lemon's business base, our main concern is to ensure continuity and security for their customers, who may otherwise have to write off their investments in work in progress. We're also already talking to ex-Mercatela employees and looking at opportunities for helping them carry on their work." Rupert Purser of Baker Tilly, the Provisional Liquidator of Mercatela, confirmed that continuity and decisiveness were key factors in securing the deal with Lemon.

"There were a number of parties interested in the Mercatela business, but for every reason - ongoing business, employee opportunities and the potential to realise assets - it was critical to act swiftly. Lemon's sensitivity to all of those issues, plus a thoroughly professional approach to all aspects of the negotiations, were highly instrumental in securing the deal so quickly," he said. -(World IT Report)