Sage and M: turn to Nordics for acquisition

Sage has signed a 'definitive agreement' which, subject to regulatory clearances, should see the transaction completed at the end of Q3 2008.

100-strong H&H is split into a comms and web services business. The 60 per cent of the Stockholm-based agency which is dedicated to city and corporate communications will report into a Sage Holdings corporate and financial development group, headed by M: founders Nick Miles and Hugh Morrison.

Morrison said M: had been in contact with Sage for some time and he had worked with the firm for over a decade. Sage plans to expand both on a ‘geographical and functional' level with further acquisitions.

Private equity backed Sage agreed a deal with M: in February this year.