Savanta Owner Next 15 to Buy M&C Saatchi

British-based marcoms consultancy Next 15, which owns data and insights group Savanta, has agreed to acquire ad agency network M&C Saatchi Plc in a £310m cash and share deal.

Founded in 1995 by brothers Maurice and Charles Saatchi, M&C Saatchi employs more than 2,400 staff across 23 countries, providing access to a global network of brand, data and marketing specialists. Specialisms include brand strategy, architecture and innovation; digital experience design; employer brand proposition; and global trend studies. The company also develops measurable media strategies and offers ad / message targeting.

M&C Saatchi recently rejected a £253.6m takeover offer from its biggest investor, Vin Murria, describing it as 'derisory'. Following completion of the deal with Next 15, M&C Saatchi shareholders will own approximately 17.3% of the enlarged group. In a statement, the Board of Next 15 suggested its in-house data analytics capability could be rolled out across the enlarged group to create new client opportunities. Currently, Next 15 says its four segments - Customer Insight, Customer Engagement, Customer Delivery and Business Transformation - represent a £1 trillion revenue global market opportunity.

M&C Saatchi CEO Moray MacLennan said the merger will help turbo charge the business' next phase of growth. Next15 CEO Tim Dyson adds: 'Bringing M&C Saatchi into the Next 15 group provides us with a step change in our scale and global reach, and an enhanced ability to offer digitally driven solutions to growth-minded organisations'.

Earlier this year, Next 15 agreed to acquire media and marketing services company Engine UK for £77.5m.

Web sites: www.next15.com and www.mcsaatchi.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.