US Acquisition

Released : 16/03/2016 11:25

RNS Number : 2773S

M&C Saatchi PLC

16 March 2016

M&C SAATCHI PLC

16 March 2016

Majority investment in Principal MCD

LIDA, M&C Saatchi PLC's wholly owned award winning customer relationship management and direct agency, announces that it has agreed to acquire a 51% stake in Principal MCD Inc ("MCD"), a New York & Chicago based digital customer experience agency with clients including AT&T, Discover, Johnson and Johnson, Samsung and Sesame Workshop

The consideration for the 51% stake in MCD is USD10m. The members of MCD will be able to elect that M&C Saatchi purchase 50% of the remaining equity from 2016 and the remaining balance from 2018 for considerations based on future profits.

MCD had unaudited gross assets of USD5.2m as at 31 December 2015 ($6.3m 31 December 2014), unaudited revenue of USD14.9m for the twelve months ended 31 December 2015 (USD15.2m 31 December 2014) and unaudited adjusted EBITDA of $2.45m for 2015.

Contacts:

M&C Saatchi                                  +44 (0)20-7543-4500

David Kershaw

Tulchan Communications                 +44 (0)20-7353-4200

Tom Murray

Numis Securities                              +44 (0)20-7260-1000

Nick Westlake, NOMAD

Charles Farquhar, Corporate Broking

About M&C Saatchi 

M&C Saatchi, founded in 1995, is a global marketing services business working across a wide variety of industry sectors. We are a federation of entrepreneurs, built through start-ups and owner managers with 25 offices in 21 countries all united by our commitment to our philosophy: Brutal Simplicity of Thought.

About LIDA

LIDA is a CRM and direct marketing agency that creates measurable commercial value by using customer understanding to develop action-orientated communications that connect better with customers across all channels. The agency is at the forefront of the move towards highly relevant, personal communications.

LIDA works with O2, Boots, IKEA, RBS/NatWest and National Trust.

About MCD

MCD is a digital customer experience agency focused on helping organizations design and build digital products and services that millions of people use every day. Founded in 1999, MCD Partners are located in New York and Chicago offering digital business strategy, user experience design, digital marketing, and mobile development

This information is provided by RNS

The company news service from the London Stock Exchange

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