Mergers and Acquistions News
Categories: Software
May 23rd 2011, 16:32PM
A deal has been struck by digital marketing company Next Fifteen Solutions for the acquisition of CMG Worldwide.
The company has agreed to pay an initial £1.95 million for CMG, which trades as Bourne, a digital media agency with offices in London, New York and Glasgow.
Further payments are based on future profits achieved by Bourne, which is selling 80 per cent of its stock in the deal.
The remaining 20 per cent is subject to put and call options and are expected to be purchased by 2018.
Dan Kersh, chief executive officer of Bourne, said: "It was unquestionable that Next Fifteen would be a perfect partner for Bourne, not just by giving us greater breadth for our existing global clients, but also adding strength to our long-term vision."
Next Fifteen has said that the acquisition will help to extend its digital marketing capabilities and services.
Bourne provides marketing solutions for companies including Dell and Lumesse.
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