Print
	Email
	Text size
	Comment

A marketing services, media buyer and advertising agency in London has added a technology marketing business to its operations following a multi-million pound deal.

Adventis Group plc, which focuses on the healthcare, financial services and property industries, has bought Second2 for as much as £10.5 million.

On completion the group paid £3.65 million in cash, shares and loan notes, with up to £2.85 million due depending on Second2’s profits in the next three years. The vendors sold the business to Adventis after also agreeing a further deferred payment of up to £4 million, in line with the business’ financial performance by 2013.

Adventis chief executive Charles Phillpot said the group bought Second2 after a thorough search of the market. “Some time ago, we identified technology as a sector that had the same opportunities and attributes as our existing business sectors and would therefore be earnings enhancing whilst enabling us to maintain our high margins.”

Oxfordshire-based Second2 was founded in 2001 by James Collis and Matt Rippon, who remain with the company post-completion. The company’s 38 staff will relocate to Adventis’ headquarters.

Second2’s services include copywriting, direct mail, online advertising, web design and development, campaign microsites and online tracking tools. Its clients include Microsoft, Toshiba, Nortel, EMC, Hitachi, TalkTalk and Avnet. In the eight months to March 2008, Second2 made £600,000 on an audited turnover of some £2.5 million.

Comments [0]