Avenue A expands with DNA purchase
By Larissa Bannister, campaignlive.co.uk, Friday, 09 December 2005 12:00AM
Avenue A/Razorfish, one of the US's largest digital agencies, has signalled its intention to build a global network by buying the UK full-service digital agency DNA.
Avenue A has paid £2.8 million upfront, plus a three-year cash earnout based on profits, the details of which will be released in January.
Clark Kokich, Avenue A's worldwide president, said the acquisition was a precursor to further international expansion. "Clients have been talking to us for a couple of years about servicing their accounts globally and we have partnered with agencies in the past, but over the long term, that's not enough.
"We are now looking at agencies in continental Europe and Asia," he said.
DNA has had a good 2005, winning the NSPCC and BMW Finance digital accounts.
The business will continue to be run by Chris Perry and Neil Miller, the joint managing directors, and will retain the DNA name.
- Close-up, page 13.
This article was first published on campaignlive.co.uk
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