InboxDMG and HyperlaunchDMG to come under the 20:20 banner
Digital Marketing Group, the UK’s largest digital marketing agency (Campaign, January 2009), announces that it has acquired 20:20 London, the multi award-winning digital creative business through a wholly owned subsidiary, for a consideration of up to £2.0 million.
The consideration consists of an initial payment of up to £1.5 million in cash, £0.25 million in DMG shares upon completion and a further £0.25 million in DMG shares based upon satisfaction of specific performance criteria.
20:20 London was established in 2003 by Creative Director, Peter Riley. Through its work with clients such as BP, EA Sports, Red Bull, Lotus and Procter & Gamble, the multi award-winning, full service digital creative agency has established itself as one of the UK’s most creative and strategic minded agencies in the digital and mobile space.
As part of the acquisition, Peter Riley will become Chief Creative Officer of a newly established division within DMG called 20:20. This division will be the pure play digital marketing division of the Group and will consist of 20:20 London and DMG’s existing digital marketing agencies (InboxDMG, GraphicoDMG, HyperLaunchDMG, CyberDMG and CheezeDMG). The existing management of these agencies will remain in place and continue to report into the plc’s board, although the agencies will be rebranded in early 2010.
Commenting on the acquisition, Ben Langdon, CEO of Digital Marketing Group said:
“Digital Marketing Group has worked hard to become the UK’s largest digital business and, through the acquisition of 20:20, we have the opportunity to be recognised as the UK’s best digital business.
“20:20 leads the way, both creatively and strategically, in the digital and mobile space and, in Peter Riley, we have found the creative talent and creative leadership that our business deserves."
Peter Riley, founder and Executive Creative Director of 20:20 London added:
“I’m thrilled to become part of the UK’s largest digital agency and to be given a key role in its future development. We have the opportunity to grow the 20:20 brand into the biggest and best name in digital marketing in the UK, which is a challenge I look forward to."
