Digital marketing company Next Fifteen Communications Group has acquired CMG Worldwide.

Digital marketing company Next Fifteen Communications Group has acquired CMG Worldwide.

The purchased company, which trades as Bourne, is also a digital agency and has offices in London, New York and Glasgow.

Under the terms of the deal the purchase is to be satisfied with an initial £1.95m cash sum. Subsequent payments are based on future profit before interest and taxes achieved by Bourne.

Next Fifteen has secured an 80 per cent stake in Bourne with the buy. Clients of Bourne include Dell, Ricoh, Lumesse and Symantec.

Dan Kersh, CEO of Bourne, comments: ‘We began our business with a clear focus on delivering digital strategies and campaigns on a global basis.

‘Therefore it was unquestionable that Next Fifteen would be a perfect partner for Bourne, not just by giving us greater breadth for our existing global clients, but also add strength to our long-term vision.’

As part of the deal, the remaining 20 per cent holding in Bourne is the subject of put and call options. According to a statement released by the company the remaining shares are expected to be purchase by October 2018.

CEO of London-headquartered Next Fifteen, Tim Dyson, says that the purchase of Bourne extends its digital marketing capabilities and services.

Dyson adds: ‘Marketing directors are rapidly shifting spend from areas such as traditional advertising and direct mail to digital services.

‘Through the services that Bourne offers […] we have an opportunity to benefit from this transition.’

The acquisition marks the first for Next Fifteen since its 2010 buy of Type 3 to create Beyond, its first pure digital agency.

Next Fifteen’s half year report the company declared revenues of £40.8 million for the six months to 31 January 2011, a rise of 19 per cent. This generated to profit before tax of £2.49 million.