Holmes Report 12 Jul 2017 // 9:21AM GMT
LONDON — Next 15 has acquired two UK-based B2B agencies, continuing a buying spree that has seen the holding group snap up numerous firms in recent years.
The company, which owns such agencies as Text100, OutCast and Bite, has acquired digital firm Velocity Partners and research consultancy Circle Research.
Velocity Partners is acquired for an initial price of £5.9m. The agency, which reported net revenues of £5.2 million for its most recent fiscal year, was founded by Doug Kessler and Stan Woods in 2000.
Both Kessler and Woods will remain with the business, overseeing a firm that derives 70% of its revenue from US-based clients such as Sprint and Xerox, in line with its focus on B2B technology companies.
"Data-driven content marketing is the fastest growing part of the marketing mix right now," said Next 15 CEO Tim Dyson. "This is a key area of investment for us going forward. Velocity has built an impressive business with a strong B2B focus that means it will placed to achieve its ambitions in the US and UK markets."
Circle Research, meanwhile, is acquired for an initial price of £5.21m through Next 15's MIG data and insights subsidiary. Circle reported net revenues of £2.24 million for its most recent fiscal year, and was founded by David Willan, Andrew Dalglish and Beth Pearson in 2006.
Dalglish and Pearson will remain in place as joint managing directors. While Willan relinquishes his role as chairman, he will continue to support the business in an advisory capacity. Clients include Vodafone, Google, Mastercard, BSI, SITA, Maersk and Facebook.
"Next 15 is committed to building a deep data and insight capability at its core," said Dyson. "Circle is an important step in that strategy, a powerful addition to the MIG data and insights offering and we are excited to have them as a part of the Group."