Next Fifteen Communications Grp PLC
19 August 2003
Date 19 August 2003
Contacts:
Next Fifteen David Dewhurst
020 8996 4154
Tim Dyson
001 415 350 2801
Holborn Chris Steele
020 7929 5599
chris.steele@holbornpr.co.uk
Next Fifteen Communications Group plc
Acquisition
Announcement of Heads of Agreement
Next Fifteen Communications Group plc, the global public relations business,
today announces that it has signed heads of agreement relating to the
acquisition of the business and certain assets of Applied Communications Group's
San Francisco public relations division. The business to be acquired relates
only to the public relations activities of the San Francisco office, which
primarily serves clients in the technology sector. The consideration is expected
to be between $1.5m and $2m, payable in cash over three years, subject to
certain performance criteria. It is intended that the acquired business will be
merged with the US operations of Next Fifteen subsidiary Bite Communications, to
provide a much stronger platform for the combined businesses in the future.
Further details of the acquisition will be given upon exchange of contracts,
which is expected to take place in the next 30 days.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
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