Next15 Buys Innovation Agency Brandwidth Group

In the UK, digital communications group Next15 has acquired innovation agency Brandwidth Group for an initial consideration of GBP 6.2m.

Brandwidth has more than 100 in-house staff in offices in London, Windsor and San Francisco, and offers a combination of research, creative skills and technology for branding, marketing and other digital projects. The firm also creates bespoke events to engage consumers emotionally with brands, generate customer loyalty and influence purchase decisions.

Joint CEOs Phil Goodman and Jason Jones, and Chairman Andrew Strange, will continue to lead the Brandwidth business. The firm reported adjusted net revenues of £7.3m for the year ended 30th June 2017, with adjusted EBIT of £1.9m. The acquisition will be fulfilled through £4.9m in cash and the issue of 292,235 new ordinary shares in Next 15; and further deferred consideration may be payable in September 2018 of up to £3.3m and April 2020 of up to £0.8m, based on the EBIT performance of Brandwidth in the year ending 30th June 2018.

Commenting on the deal, Jones (pictured) said: 'We are enormously excited to be joining Next 15. Our visions are entirely aligned, focusing on innovation at the centre of creativity, content, technology and data. This strong alignment, with the acceleration in capabilities that our partnership brings, will enable us to greatly speed our clients' ambitions to deliver truly connected, next-generation digital interfaces and transformative customer experiences'.

The buy adds to Next15's 2017 acquisition of B2B MR consultancy Circle Research through its data and insights subsidiary, MIG Global Limited (MIG); and data-driven B2B content marketing strategy firm Velocity Partners.

Web sites: www.next15.com and www.brandwidth.com .