10th anniversary deal delivers excellent investor return and restores agency's independence Thursday 29 November 2007 PDF Print Fortune Cookie – a top UK digital design agency, whose clients include Legal & General, Kuoni and Small Luxury Hotels of the World - has agreed to buy back internet incubator Brainspark’s 29.4% holding in the agency in a deal that will deliver an excellent return to the investor. The deal has been made under the provisions enabling a company to buy back its shares out of capital. Fortune Cookie Managing Director Justin Cooke said, "I am absolutely delighted that the considerable success that Fortune Cookie has achieved over the past few years has enabled us to wholly own our company again. Fortune Cookie is debt-free and profitable and we are purchasing these shares from the company’s own cash balances." "Of the digital agencies that Brainspark invested in we are extremely proud that Fortune Cookie has been one of the very few to deliver a return. As a company we pride ourselves on delivering excellent return-on-investment to our clients. Now we’ve delivered excellent return-on-investment to our investors." As well as generating a profit for Brainspark in 2007, Brainspark may also have the right to share in the gain from future growth in the value of Fortune Cookie over the next seven years. Francesco Gardin, Chairman of Brainspark, said, "It is gratifying that we have been able to negotiate a continuing participation in the future value of Fortune Cookie, which could be significant. The company is now in its 10th year of business and continues to grow. We recognise the market potential of Fortune Cookie's services and wish them every success in the future." Justin Cooke of Fortune Cookie, added: "I am tremendously proud of the dedicated and talented team of professionals at Fortune Cookie who have worked so hard to bring the company to this point. It’s a wonderful way to celebrate our ten years in business." "We have enjoyed the support of Brainspark and are delighted to have delivered investment return back to them. To have made this purchase from our cash reserves makes a positive statement about the capabilities of Fortune Cookie. We’re looking forward to continuing to deliver exceptional results to our clients." During 2007, websites designed by Fortune Cookie have been shortlisted for major design awards a total of 11 times. Voyages Jules Verne won the 'Best Online Tour Operator Website' award at the Travolution Awards, while Diabetes UK won the 'Best Website' award at the Chartered Institute of Public Relations (CIPR) Awards. Two Fortune Cookie projects – Legal & General and FT Pensions Gym - are shortlisted for the prestigious British Interactive Media Association (BIMA) Awards, in the 'Most Outstanding Contribution to Accessibility' and 'Business to Business' categories respectively. The BIMA Awards ceremony will be held in London later today (29 November 2007). For more information about Fortune Cookie please visit www.fortunecookie.co.uk or contact Julie Howell at Julie.Howell@fortunecookie.co.uk or 0207-8436790. For more information about Brainspark please visit www.brainspark.com. This press release was distributed by ResponseSource Press Release Wire on behalf of Fortune Cookie in the following categories: Consumer Technology, Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.