1st Apr 2016 07:45
LONDON (Alliance News) - Next Fifteen Communications Group PLC on Friday said it has acquired Twogether Creative Ltd for GBP6.6 million in cash and shares.
Next Fifteen will pay GBP4.0 million in cash, plus 1.2 million in shares to cover the balance of the initial consideration. An additional deferred consideration may become payable based on Twogether meeting profit targets through to 2021.
Twogether is a business-to-business creative and digital marketing agency. It counts Chinese computing group Lenovo Group Ltd and US technology company Symantec Corp among its clients.
"Twogether is a great addition to the group. Its digital offerings, software platform and client base make it very complementary to our other agencies. It is also a business that is looking to expand its US customer base, something we are well placed to help with," said Next Fifteen Chief Executive Tim Dyson.
Next Fifteen shares were up 0.1% to 233.77 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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