Naked sells to Photon for £16.5m

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:

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Omnicom shuts M2M in UK after account losses
Share

1 Omnicom shuts M2M in UK after account losses

Omnicom has shut its media agency M2M in the UK following a string of account losses and Alistair MacCullum, the chief executive of M2M, is stepping down.

Brands that forge an emotional tie are best protected from copycats
Shares0
Share

1 Brands that forge an emotional tie are best protected from copycats

Forging an emotional tie with consumers is one of the strongest ways to protect your brand. Products can be copycatted, but the distinctive identity of a true brand can never be replicated argues Nir Wegrzyn, CEO of BrandOpus.

Just published