Photon Group, the acquisitive marketing services company, has bought Naked Communications for an initial cash payment of £16.5m. The deal also includes a four year earn-out package for agency’s shareholders.
It is the latest acquisition for the Australian group, which has also acquired branding company Corporate Edge (MW September 6) and Sledge, the experiential agency, in the UK over the past year. It now has a presence in 17 countries.
The planning communications agency was launched in London in 2000 by Jon Wilkins, John Harlow (pictured) and Will Collin. It has offices in eight countries also including New York, Sydney, Melbourne, Tokyo, Amsterdam, Oslo and Paris.
Nigel Long, chief executive of Naked, says: “We’re attracted to Photon’s model which mirrors our own culture of entrepreneurial spirit and allows our continued independence to pursue our vision, although backed by the resources of the wider group.
“We believe Naked has one of the most powerful brand names in global marketing services and the partnership with Photon now gives us even greater opportunity to build the business further.”