Next Fifteen Communications Group plc has completed the acquisition of Story Worldwide, a content advertising agency with offices in New York and Seattle for $6.6m.
The Group has acquired Story’s trade together with 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.”
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