Print Published 5th Nov 2018, 13:17

Next 15 buys 100% of Activate for initial 45% of its current value

Next Fifteen Communications Group has completed a £20 million share placing, part of which will be used to finance the acquisition of the US business-to-business demand generation agency Activate Marketing Services on a valuation that reflects only 45% of its current worth.

Activate specialises in providing its services to technology companies.

Next Fifteen has agreed to pay an initial $9 million (£7.1 million) in cash for Activate, with a top-up payment of up to $2.25 million (£1.8 million) and further performance related payments becoming due over the next five years.