Planning-inc is a UK-based marketing, data and technology agency. Following the Acquisition Planning-inc will continue to operate as an independent brand as part of the Next 15 Network.
The initial consideration for the acquisition is approximately £6.3 million, made up of £5.4 million in cash and the issue of 187,943 new ordinary shares in Next 15. Further deferred payments may be payable around April 2019 with a top-up payment based on the EBITDA performance of Planning-inc for the year ended 31 December 2018, and around April 2021 and April 2023 based on the EBIT performance of Planning-inc in the 2-year periods ending 31 January 2021 and 31 January 2023 respectively. The maximum total consideration is expected to be £15 million.
For the year ended 31 December 2017, Planning-inc reported EBIT and profit before tax of £1.3 million, and gross assets of £2.7 million.
The senior management team will continue to lead the business which includes clients such as Argos, M&S, Halfords and Sony.
Tim Dyson, CEO of Next 15 commented: “Next 15 believes marketing is a technology and data-driven activity. As a result we are committed to investing in these areas alongside the creative aspects of marketing. Planning-inc’s focus on using data science and analytics to inform and design great marketing programmes fits beautifully with our strategy. We are excited to have them as a part of the group and believe they will work with a number of the agencies in the group”.
- Next Fifteen Communications Group acquires Brandwidth Posted onFebruary 6, 2018
- Next Fifteen Communications Group acquires Charterhouse Research Posted on September 26, 2017
- Next Fifteen Communications Group acquires market research agency HPI Posted on November 10, 2016
- Next Fifteen Communications Group acquires Morar Consulting Limited Posted on December 4, 2014
- Next Fifteen Communications Group acquires Story Worldwide November 4, 2014
- Next Fifteen Communications Group acquires Connections Media April 9, 2013