Next Fifteen Communications Group plc
Acquisition of Continuous Insight and majority stake in Agent3 Limited
As part of Next 15’s transition towards a digital marketing business, in January 2013, the Company invested in the start-up digital marketing consultancy Agent3 Limited (“Agent3”) and took a 45% stake.
On 14 February 2014 Agent3 acquired 100% of Continuous Insight Limited (“CI”) a business which provides customer and market insight to large B2B enterprise organisations operating in the IT, Telecommunications and Professional Services sectors (the “Transaction”). For the ten months to January 2014, CI delivered revenue of £1.5m and normalised profit before tax of £0.3m.
As part of the Transaction, Next 15’s holding in Agent3 increased to 54%. This majority stake will therefore result in the consolidation of Agent3 into Next 15’s group accounts going forward, which Next 15 expects to be earnings accretive.