DMG, headed by CEO Ben Langdon (pictured), is listed on AIM. It will now pay up to £1.5m in cash and £0.25m in DMG shares upon completion and a further £0.25m in shares upon its acquisition hitting specific performance targets.
20.20 London launched in 2003 and its clients have included BP, Red Bull and Procter & Gamble.
As part for the acquisition of 20.20 London, the agency founder 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 be made up of 20.20 London and DMG’s existing digital marketing agencies, including CheezeDMG, CyberDMG and GraphiCo DMG.
The existing management of these agencies will remain in place although the agencies will be rebranded early next year under the 20.20 banner.
DMG’s other agencies focus on data driven marketing services and will retain their existing management and continue to operate under the DMG brand.
Langdon says: “DMG 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.