LONDON: Next 15 Communications Group has acquired Mach49, a Silicon Valley-based growth incubator for global businesses.
With annual revenue of approximately $13 million, Mach49 has offices in Silicon Valley, Boston, London and Singapore. Its global clients include Schneider Electric, Pernod Ricard, TDK and Stanley Black & Decker.
Next 15 CEO Tim Dyson said in a statement that the combination of his network’s experience with Mach49’s expertise in creating and launching ventures, incubators and corporate venture capital funds will “give us a unique service offering for global businesses to build and scale resilient new ventures.”
Mach49’s venture-building practice has worked with clients such as Clipsal Solar, an Australian residential solar energy provider that was incubated with Schneider Electric; Surehand, a self-service hiring platform that matches industrial employers with skilled tradespeople, which was incubated with Stanley Black & Decker, and Pear.ai, an energy analytics solution for enterprises, that was incubated with RWE and recently acquired by Exelon.
Mach49’s global corporate venture investing practice has helped build and manage corporate venture capital firms, including TDK Ventures, Pernod Ricard’s Convivialité Ventures, Goodyear Ventures, Qu Ventures and Hypertherm Ventures.
The acquisition of Mach49 is part of Next 15’s plan to create a $100 million revenue innovation business to work alongside its data, technology and brand marketing companies to help clients create disruptive growth strategies, the network said in a statement.
Next 15 expects its pre-tax profit to grow 16% to "at least $27 million" for the first half of its 2020 financial year, amid what it called "resilient" trading in H1 despite a 6% dip in organic revenue.
Next 15 owns PR agencies Archetype, the Outcast Agency, the Brandwidth Group, M Booth and Publitek.