Acquisition

RNS Number : 5656P

Next Fifteen Communications Grp PLC

05 October 2011

 

Next Fifteen Communications Group plc

Acquisition 

5 October 2011

Next Fifteen acquires German agencies, Trademark PR and Trademark Consulting, enhancing Bite's European offering

Next Fifteen Communications Group plc, a worldwide digital marketing communications group, has announced the acquisition of Munich-based Trademark PR and Trademark Consulting, on behalf of its subsidiary, Bite Communications.  This follows a multi-year partnership between the two firms.

Trademark is a key part of Bite's plans to offer a global service to its clients by providing specialist communications and marketing expertise in the key economies.  Trademark represents an impressive portfolio of brands across the consumer electronics, technology and telecoms, entertainment and lifestyle, and beverage sectors. Current clients include HP, Harmon Consumer International, Creative, Amazon Web Services, and BRIO.

Tim Dyson, Next Fifteen CEO, said: "The acquisition of Trademark is an important step in the growth of the Bite brand internationally.  It enables it to extend its services to clients in the important German market and to offer them services that go beyond traditional PR. We see this providing Bite with a stronger platform for organic growth in the future."

Stefan Ehgartner, Trademark Managing Director, said: "Both Trademark companies have experienced impressive growth over the past five years and joining the Bite network is another milestone in our young company's history. Within the Bite family we will have access to an outstanding repertoire of intellectual property and expertise, which means we will be in a position to offer our clients innovative, creative solutions to a myriad of communications challenges on a global scale. "

The move gives Next Fifteen an 80% shareholding in Trademark, a business with €2.11m of revenue in calendar year 2010 delivering adjusted profits before interest and tax of €0.57m. The initial consideration for the share purchase is €1.38m satisfied in cash with further payments, at multiples of PBIT ranging between 5 and 6, dependent on the PBIT and margin levels achieved by Trademark over five years. The maximum consideration payable is €4.5m.

Name of contacts and telephone number for queries:

Next Fifteen Communications Group plc

Tim Dyson, CEO 001 415 350 2801

David Dewhurst, Finance Director 0208 846 0771

Bite Communications Limited

Elijah Lawal 0787 574 2995

Paul Mackender 07764 687366

Canaccord Genuity Limited

Mark Williams

Henry Fitzgerald-O`Connor 020 7050 6500

 

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