The Week: City News - DMG acquires 20:20 London

Digital Marketing Group has bought the digital agency 20:20 London in a deal worth around £2 million.

The 20:20 creative director, Peter Riley, will head a new division within DMG called 20:20, which will incorporate 20:20 with DMG's existing digital marketing agencies. The deal consists of an initial payment of up to £1.5 million in cash, £250,000 in DMG shares upon completion and a further £250,000 in DMG shares upon the satisfaction of performance criteria.