Stick-man cartoon nets creator €7m takeover deal

The creator of stick-man cartoon character Purple Ronnie has bagged a deal worth up to £4.8m (€7m) after selling the rights to the brand.

Giles Andreae will net £3.3m (€4.8m) and up to a further £1.5m (€2.2m) dependent on performance over two years under the sale, which sees AIM-listed group Coolabi pick up Purple Ronnie parent group Purple Enterprises in a reverse takeover.