Naked sells to Photon for £16.5m

By Ian Darby, campaignlive.co.uk, Monday, 04 February 2008 09:00PM

LONDON - Naked Communications has been acquired by the Australian group Photon in a deal that includes an initial upfront cash payment of £16.5 million.

Naked... founders

Naked... founders

Photon, a publicly-listed marketing services group, has acquired 100 per cent of the business. The deal will involve a four-year earn out package for the agency's founders with future, as yet undisclosed, payments dependent on Naked hitting growth targets between 2008 and 2011.

The deal was finalised in Australia by Naked's group chief executive Nigel Long, founder Jon Wilkins and finance director Barry Dudley.

Naked is the latest acquisition for Photon, which has been growing its presence outside of Australia with recent purchases including the experiential agency Sledge, branding business Corporate Edge and PR agency Frank PR.

Naked was founded in 2000 by Will Collin, John Harlow and Jon Wilkins. Its other shareholders include the advertising agency Mother.


Will the Photon deal compromise the Naked culture and its claims to be media neutral?

Post your comments below:

This article was first published on campaignlive.co.uk

X

You must log in to use Clip & Save

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Campaign Jobs