AIM listed Next Fifteen Communication Group is to pay up to £10.3 million as consideration for the acquisition of the digital innovation agency Brandwidth Group, announced today.
According to Next Fifteen, Brandwidth earned “adjusted” net revenues of £7.3 million in the year ended 30 June 2017, resulting in an adjusted profit before tax of £1.9 million. Based on those figures, the maximum aggregated purchase price payable over the next two years will represent a multiple of 5.5 times the pre-tax profit or 1.4 times the net revenue.
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