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Next 15 takes majority stake in Agent3
Next 15 has announced that it has increased its stake in the start-up digital marketing consultancy Agent3 from 45 percent to 54 percent.
Last week, the company acquired 100 percent of Continuous Insight, a provider of customer and market insight to large business-to-business enterprise organisations operating in the IT, telecommunications and professional services sectors.
Its holding in Agent3 increased by nine percentage points as a result of this transaction. Next 15 originally invested in the firm in January 2013 as part of its transition into becoming a digital marketing business.
Now that it owns a majority stake in Agent3, the start-up agency will be consolidated into Next 15's group accounts going forward, a development that the group expects to be earnings-accretive.
It is also set to financially benefit from the purchase of Continuous Insight, which delivered revenue of 1.5 million pounds and normalised profit before tax of 0.3 million pounds for the ten months to January 2014.
Next 15 owns five independent communications brands and employs 1,100 people across 48 offices in 18 countries.
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