We’re excited to announce this morning that Next 15 has acquired a 75% stake in Encore Digital Media Limited, a successful programmatic advertising technology business based in London.
Dan Shaw and Guy O’Brien, who set up Encore in 2013, will remain with the company along with their five-strong team, providing data and programmatic media services to Encore’s clients, primarily in the B2B space.
The Encore team has rapidly established a highly distinctive programmatic media and data business, which will be a great fit in the Next 15 group. This acquisition is another step in our strategy to build broader, data-driven marketing communications capabilities for our group.
Guy O’Brien, Encore partner, shared with us his view: “We see this as a great opportunity to take Encore to the next level as part of a forward thinking group. We aim to build on the early success we have had with our approach to B2B in the digital world within the Next 15 group.”
The initial cash consideration is £687,000, with a further payment to be paid as a ‘top-up payment’ in July 2015 dependent on Encore’s annual profits to 31 May 2015. For the year ended 31 May 2014 Encore had revenues of £429,000, profit before tax of £153,000 and net assets of £74,000.
I’d like to extend a warm welcome to the Encore team on behalf of all Next 15 businesses.