Golley Slater buys up Green Cathedral
By Staff, campaignlive.co.uk, Thursday, 26 July 2007 08:00AM
LONDON - Golley Slater has acquired the full-service digital agency Green Cathedral, in a deal that will see it pay £8 million in cash and shares for 100 per cent ownership of the business.
The agency has paid £5 million upfront, with a further £3 million in shares to be earned on a performance basis over the next three years.
The digital shop will be rolled into Golley Slater's existing online offering, Golley Slater Digital, which will now be headed by Green Cathedral's managing director, Paul O'Donoghue.
Paul Putwain and Dr Michael Woodley, who founded Green Cathedral in 1996 as part of the private technology company GC plc, have now ended their association with the venture.
Golley Slater Digital's managing partners, Liz Faber and Mathew March-Smith, will report to O'Donoghue.As well as transferring Green Cathedral's 47-strong team to a London-based office, its clients, which include The Open University, PC World and Center Parcs, will also move across.
This article was first published on campaignlive.co.uk
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