Next Fifteen Communications acquires IncrediBull World for £1.6m

Next Fifteen Communications acquired IncrediBull World, a brand marketing consultancy, for £1.6m.

Next Fifteen said it will pay £1.3m in cash and the remaining consideration will be paid based on the profit of IncrediBull this year.

The London-based agency reported revenues of £2.4m and adjusted pre-tax profits of £0.5m for the year ended 31 December 2014.

The acquisition is part of the group' strategy to strengthen its UK operations and follows the acquisitions of Morar and Encore, two advertising companies.

Chief executive Tim Dyson said: "This acquisition adds great talent and a strong product set to our UK business and caps a string of acquisitions in this market covering content, insight and technology.”

Investec maintained its 'buy' recommendation, amid Next Fifteen's "US tech/PR positioning in a more digital, social media-oriented world and continuing management initiatives to drive up non-US revenue and profit".

Shares were up 0.79% to 191.5p on Thursday at 13:02.