4th Nov 2014 07:00
4 November 2014
Next Fifteen Communications Group plc(“Next 15” or the “Group”)
Completion of the acquisition of Story Worldwide
On 7 October 2014 Next 15 announced the acquisition of Story Worldwide (“Story”), a content advertising agency with offices in New York and Seattle for $6.6m. Next 15 announces today that it has completed the acquisition of the assets of Story.
The Group has acquired Story’s trade together with certain assets valued at $1 million, which comprise cash, receivables, trade payables and fixed assets. Consideration is $6.6 million payable in cash and the acquisition is expected to be immediately earnings enhancing for the Group. Story has clients that include Unilever, RCI (a division of Wyndham Worldwide), SEI, Beech-Nut and Lexus.
Tim Dyson, CEO of Next 15 commented: “Next 15 is focused on adding to its content and insight capabilities as the marketing industry moves towards digital channels. Story increases our content capabilities, adding significant paid and owned products as well as services to our mix. We are very excited to have them as a part of the Group.”
Kirk Cheyfitz and Simon Kelly, Co-CEOs of Story Worldwide, said: "We're excited to join the Next 15 group because our views of a digital-first, content-centered ad industry are perfectly aligned with Next 15 and being part of Next 15’s enlarged organisation will multiply our opportunities to spread our talents to more clients and across a wider geography."
| Enquiries: | ||
| Next Fifteen Communications Group plc | +1 415 350 2801 | |
| Tim Dyson, CEO | ||
| Investec Bank plc | +44 20 7597 4000 | |
| Keith Anderson / Matt Lewis / Dominic Emery | ||
| Story Worldwide | +1 212 481 3452 | |
| Kirk Cheyfitz, CEO | ||
| Simon Kelly, CEO | ||
Copyright Business Wire 2014
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