Next 15 acquires Brandwidth Group for up to £10.3m
Source - SMW
Digital communications group Next 15 said it had acquired innovation agency Brandwidth Group for up to £10.3m.
The consideration involved an initial payment of £6.2m, including £4.9m in cash and the rest in shares. Further payments in 2018 and 2020 were conditional on performance.
The maximum total consideration of £10.3m represented a 5.5 times multiple of Brandwidth's adjusted earnings before interest and tax in the year ended 30 June, Next 15 said.
At 8:12am: (LON:NFC) Next Fifteen Communications Group PLC share price was +5p at 411.5p