Social media company Crisp Thinking said to explore sale

Shareholders in Leeds-based social media company Crisp Thinking have reportedly appointed investment bank Lazard to advise on a sale of at least part of the group's equity.

According to Sky News, the firm’s backers are plotting a sale that could land them a windfall worth hundreds of millions of pounds.

The company was founded in 2005 by Adam Hildreth with the aim of identifying internet-based threats to children. It has since evolved into a provider of wider digital marketing services for its clients through the use of sophisticated artificial intelligence tools and a growing team of analysts, Sky said.

It cited an industry source as saying that its roughly one-third stake in the business could be worth well over £100m in any sale. Sky said it was unclear whether Crisp's other shareholders, including its founder, also want to sell all or part of their stakes.

It was understood that a number of private equity firms are interested in bidding for a large chunk of the business.