Hotwire confirms £10m takeover by Photon Group

Top tech PR outfit Hotwire has confirmed its acquisition by the Photon Group, weeks after the deal was rev­ealed by PRWeek (19 October).

The Australian communications firm has bought 100 per cent of the North by Northwest Group, the holding company of Hotwire. It has also bought up its full-service subsidiary Skywrite Communications.

Photon CEO Tim Hughes said the acquisition represented his company’s international strategy of buying up companies in ‘lower risk, higher margin’ sectors inc­luding PR. The purchase price comprises an initial payment in cash of A$22.4 million (approx £10m) plus deferred payments tied to performance targets.

Photon Group is a multinational comms conglomerate on the Australian stock exchange. The acquisition of Hotwire is expected to inc­rease its earnings per share.

Photon’s recent purchases include well-known consumer agency Frank PR and corporate comms and branding outfit Corporate Edge.

At last month’s PRWeek Awards, Hotwire won the Best Technology Campaign and International Consultancy of the Year Awards. The agency was founded in 2000 by current MD Kristin Syltevik and FD Antony Wilson.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

Department store John Lewis is to use its 150th anniversary this year to talk about its history, which "not enough people know about", according to director of communications Peter Cross.

Labour hires Obama election strategist David Axelrod to fight General Election

Labour hires Obama election strategist David Axelrod to fight General Election

The man who helped Barack Obama win the 2008 and 2012 US presidential elections is to work for Labour along with members of his team.

Sky adds Fever PR to its roster after splitting with Cake

Sky adds Fever PR to its roster after splitting with Cake

Pay-TV giant Sky has added Fever PR to its agency line-up for a wide-ranging brief covering products and services.

Max Clifford trial jury to continue deliberations after Easter break

Max Clifford trial jury to continue deliberations after Easter break

The jury in the trial of celebrity publicist Max Clifford has been sent home for Easter and will reconvene on Tuesday for further deliberations about its verdicts on 11 charges of indecent assault.

Home Office brings in Munro & Forster to campaign against FGM

Home Office brings in Munro & Forster to campaign against FGM

The Home Office has tasked Munro & Forster (M&F) with supporting its campaign to eradicate female genital mutilation (FGM) as part of a wider retained brief.