11th Jan 2019 09:42
LONDON (Alliance News) - Digital communications firms Next Fifteen Communications Group PLC said Friday it has acquired Planning-Inc Ltd for a maximum consideration of GBP15 million.
Planning-Inc, a predictive analysis and data marketing company, will continue to operate as an independent brand as part of Next Fifteen's network.
The initial consideration will be about GBP6.3 million, with GBP5.4 million in cash and the issue of 187,943 shares in Next Fifteen.
A further payment will be made in April based on Planning-Inc's earnings before interest, tax, depreciation and amortisation performance with further payments made in 2021 and 2023 based on earnings performance. The maximum total consideration is expected to be GBP15 million.
Next Fifteen said the acquisition will be earnings accretive in the first full year, 2020. In 2017, Planning-Inc reported pretax profit of GBP1.3 million with gross assets of GBP2.7 million.
"Next Fifteen believes marketing is a technology and data-driven activity. As a result we are committed to investing in these areas alongside the creative aspects of marketing. Planning-inc's focus on using data science and analytics to inform and design great marketing programmes fits beautifully with our strategy. We are excited to have them as a part of the group and believe they will work with a number of the agencies in the group," said Chief Executive Officer Tim Dyson.
Shares in Next Fifteen were down 0.4% Friday at 486.18 pence each.
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