Next 15 snaps up digital agency Velocity Partners for £5.9m

Next 15, the listed owner of PR agencies Bite, Lexis, Text100 and The Blueshirt Group, has acquired UK-based digital agency Velocity Partners for £5.9m ($7.6m).

Next 15 CEO Tim Dyson: Data-driven content marketing is a key area of investment
Next 15 CEO Tim Dyson: Data-driven content marketing is a key area of investment

Velocity Partners is a b2b digital agency with a focus on technology clients, representing companies including Sprint, Xerox and Informatica. It is based in the UK, although 70 per cent of its revenue comes from US-based clients.

At its full-year results in April, Next 15 cited expansion in the US as a key reason for recent growth. Its global pre-tax profit rose 50 per cent to £24.2m ($30.1m) in the year to 31 January 2017.

In the year to 30 April 2017, Velocity reported net revenue of £5.2m ($6.7m), with adjusted pre-tax profit of £1.35m ($1.7m). The firm was acquired debt-free.

Tim Dyson, CEO of Next 15, said: "Data-driven content marketing is the fastest growing part of the marketing mix right now. This is a key area of investment for us going forward.

"Velocity has built an impressive business with a strong b2b focus that means it will placed to achieve its ambitions in the US and UK markets. At its core is a strong management team that shares our vision and values. We are very excited to work with them to help them achieve their plans."

Stan Woods, founder of Velocity, said: "Velocity has always been fiercely independent. But as soon as we met the team at Next 15, we could see that this was the right home for us. We’re thrilled to be a part of such a strong group."

Next 15’s other acquisitions in the past 18 months have included tech PR shop Pinnacle and content marketing business Publitek.

Joe Hine, partner at SI Partners who led the deal negotiations, said: "The chemistry was evident from the start and I am in no doubt that this union will prove to be an excellent platform for growth and innovation for both businesses. Content remains highly desirable to acquirers."

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