Digital Marketing Group buys 20:20 London
Digital consultancy 20:20 London has been acquired by Digital Marketing Group for a fee of up to £2m.
The move will see a change of personnel and the rebranding of subsidiaries.
The takeover means 20:20 London founder and creative director Peter Riley is to become chief creative officer of a new division within DMG known as 20:20.
Focusing on digital marketing, the division will comprise 20:20 London and DMG’s existing digital marketing agencies, which will be renamed.
The rebranded 20:20 Network will subsume Inbox DMG, Graphico DMG and Hyperlaunch DMG, covering disciplines including Web design and build, viral marketing and social media. The newly branded 20:20 Technology will replace Cyber DMG, concentrating on e-commerce and digital systems integration, while 20:20 Media Analytics will replace Cheeze DMG, a division which combines pay-per-click skills with data analytics to look at ‘digital brain research’.
20:20 London which was set up in 2003 by Riley, and worked with companies including Lotus, BP and Procter & Gamble.
The takeover payment will be made up of an initial payment of £1.5m ‘from existing resources’, £250 000 from DMG shares on completion and a further £250 000 of shares ‘upon the satisfaction of specific performance criteria’.
-
Post a comment
