Last checked at 14 Dec 2009 07:00
Date: 14 December 2009
On behalf of: Digital Marketing Group plc ("DMG", "the Company" or "the Group")
Embargoed until: 0700hrs
Digital Marketing Group Acquires 20:20 London
Digital Marketing Group (AIM: DIGI), the UK's largest digital marketing agency, announces that it has acquired20:20 London, the multi award-winning digital and mobile creative business, through a wholly owned subsidiary, for a consideration of up to £2.0 million.
The consideration consists of an initial payment of up to £1.5 million in cash from existing resources, £0.25 million in DMG shares upon completion and a further £0.25 million in DMG shares upon the satisfaction ofspecific performance criteria. The cash consideration is also subject to the completion of specific undertakings by 20:20 London during the first three years following acquisition.
20:20 London was established in 2003 by Creative Director, Peter Riley. Through its work with clients such as BP, EA Sports, Red Bull, Lotus and Procter & Gamble, the multi award-winning, full service digital creative agency has established itself as one of the UK's most creative and strategic minded agencies in the digital and mobile space. In the year to 30 April 2009, 20:20 London reported EBITDA of approximately £0.27 million.
As part of the acquisition, Peter Riley will become Chief Creative Officer of a newly established division within DMG called 20:20. This division will be the pure play digital marketing division of the Group and will consist of20:20 London and DMG's existing digital marketing agencies (InboxDMG, GraphicoDMG, HyperLaunchDMG, CyberDMG and CheezeDMG). The existing management of these agencies will remain in place and continue to report into the plc's board, although the agencies will be rebranded in early 2010 as follows:
20:20 Network
● Web design and build, online marketing and advertising, ECRM, viral marketing, social media and online PR
● Formerly InboxDMG, GraphicoDMG and HyperlaunchDMG
20:20 Technology
● e-commerce and digital systems integration
● Formerly CyberDMG
20:20 MediaAnalytics
● Combining PPC skills with data analytics, building on the Digital Brain Search initiatives under the leadership of Mark Nancarrow
● Formerly CheezeDMG and the multi-channel marketing analytics business of JaywingDMG
20:20 London
● Lead digital and mobile creative agency
DMG's other agencies, which focus on data driven marketing services, will also remain unchangedmanagerially and continue to operate under the DMG brand.
Commenting on the acquisition, Ben Langdon, CEO of Digital Marketing Group said:
"Digital Marketing Group has worked hard to become the UK's largest digital business and, through the acquisition of 20:20, we have the opportunity to be recognised as the UK's best digital business.
"20:20 leads the way, both creatively and strategically, in the digital and mobile space and, in Peter Riley, we have found the creative talent and creative leadership that our business deserves."
Peter Riley, founder and Executive Creative Director of 20:20 London added:
"I'm thrilled to become part of the UK's largest digital agency and to be given a key role in its future development. We have the opportunity to grow the 20:20 brand into the biggest and best name in digital marketing in the UK, which is a challenge I look forward to."
- Ends -
Enquiries:
| Digital Marketing Group plc | www.digitalmarketinggroup.co.uk |
| Ben Langdon, Chief Executive | via Redleaf Communications |
| Redleaf Communications | |
| Paul Dulieu/Kathryn Hurford | Tel: 020 7566 6700 |
| DMG@Redleafpr.com | |
| Cenkos Securities | |
| Ivonne Cantu/Julian Morse | Tel: 0207 397 8900 |
Notes to Editors:
● Digital Marketing Group (AIM: DIGI) listed on AIM in October 2006, employs over 550 people.
● Digital Marketing Group is the UK's largest digital marketing agency (Campaign Magazine, January 2009).
● At the heart of the company is Digital Brain - a process which enables the real time integration of "digital, direct and data". This helps create unique contact strategies for each individual based on their historical data and real time interactions regardless of channel.
Digital Marketing Group's development strategy consists of three key elements:
● "organic growth" - driven by growth within the individual businesses and the application of a group business development programme;
● "buy and build" - through the selective acquisition of a number of well run and profitable businesses with complementary skills in digital direct marketing; and
● the creation of new revenue streams from within the existing talents and resources of the Group.
Publication quality photographs are available via Redleaf Communications.