Naked sells to Photon for £16.5m
LONDON - Naked Communications has been acquired by the Australian group Photon in a deal that includes an initial upfront cash payment of £16.5 million.
Photon, a publicly-listed marketing services group, has acquired 100 per cent of the business. The deal will involve a four-year earn out package for the agency's founders with future, as yet undisclosed, payments dependent on Naked hitting growth targets between 2008 and 2011.
The deal was finalised in Australia by Naked's group chief executive Nigel Long, founder Jon Wilkins and finance director Barry Dudley.
Naked was founded in 2000 by Will Collin, John Harlow and Jon Wilkins. Its other shareholders include the advertising agency Mother.
Will the Photon deal compromise the Naked culture and its claims to be media neutral?
Post your comments below:
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- Business Development Executive Bullfrog Digital LTD Up to £30k + Commission and benifits, Shoreditch
- Head of Strategy, Insight & External Relations London & Partners COMPETITIVE + PRP + BENEFITS, London Bridge
- Senior Account Manager Hot Cow Between £32,000 - £35,000 with discretionary bonuses., Near Chiswick Business Park, a fun and vibrant location to work with events, a lake and bars.
- Project Manager - Integrated / Digital - Superb London Agency Fill Recruitment Ltd £40k - £50k plus bonus and superb benefits!, Central London
- Business Development Manager Pure360 £20,000 - £25,000 depending on experience. £45k OTE uncapped, Brighton
- Comms Planning Manager PFJ £30000.00 - £35000.00 per annum, London