The group this morning announced that it had spent £2.4m buying the remaining 32.8 per cent stake in Beyond, and £3m acquiring the 49 per cent of Republic that it did not own.
The acquisitions are being made through a combination of cash payments and shares issues. "The acquisitions are expected to be immediately earnings enhancing for the company," Next Fifteen said.
In January, the AIM-listed group announced plans for a share sale to raise approximately £4.3m. The company said it was targeting three acquisitions and investment opportunities over the next six months.
Speaking to PRWeek following that announcement, CEO Tim Dyson said Next Fifteen would not actively target PR companies for its acquisition programme – which will focus on the UK and US – but instead look at content marketing and ad agencies. He confirmed Next Fifteen was focusing on digital companies and was in talks with two content marketing businesses, one of which was an ad tech firm.