1st Sep 2020 13:48
Next Fifteen Communications Group PLC - London-based digital communication group - Buys Silicon Valley-based growth incubator for global businesses Mach49 but does not disclose financial details. Notes however that Mach49 will become the cornerstone of its plans to create a USD100m revenue innovation business to work alongside its own data, technology and brand marketing businesses.
Mach49 has annual revenues of around US13 million and serves clients such as Schneider Electric, Pernod Ricard, TDK, Stanley Black & Decker, Next Fifteen said.
"Combining Next15's experience with high growth Silicon-Valley companies and Mach49's expertise in creating and launching new ventures, incubators and corporate venture capital funds will give us a unique service offering for global businesses to build and scale resilient new ventures. Collectively we can now work with customers to design and build high growth, Silicon Valley-style companies with digital native go-to-market capabilities at their core," said Next Fifteen Chief Executive Tim Dyson.
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By Ife Taiwo; [email protected]
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