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Adventis
- BY: Andrew Hore |
- POSTED: 10/06/2008 |
- COMMENTS: Add yours
Adventis is paying up to £10.5m for a technology marketing agency.
The initial payment for Second2 will be £3.65m in cash, shares and loan notes. The rest is dependent on the profits made by the business.
Second2 was founded in 2001, a tough time for the technology sector. The founders are staying with the company. In the eight months to February 2008, the business made profits of £593,000 on turnover of £2.57m.
Second2’s customers include Toshiba, Nortel, Hitachi, Microsoft and TalkTalk.
Adventis had been looking to move into the technology sector. There may be cross-selling opportunities with the healthcare PR business owned by Adventis and Second2 will move into group’s Beaconsfield office.
The shares rose 1p to 26.5p but they are still near to their low. Adventis is valued at £11m prior to the issue of shares for the acquisition.
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