LBi acquires TRIPLE Copenhagen
LBI International AB (“LBi”), the global marketing and technology agency, has entered into an agreement to acquire TRIPLE Copenhagen (“TRIPLE”), one of the most successful and experienced digital agencies and teams in Denmark.
LBi CEO Luke Taylor states “Denmark and the wider Nordic region are of huge strategic importance to us, especially with regards to the creative heritage of our business. I’m extremely impressed by the leadership at TRIPLE and the work they do. TRIPLE’s belief in value creation through strong strategic focus and consumer centric creative is a perfect match to LBi, as is the team’s unique international experience and skilled use of technology as a driver of innovation. I really look forward to embedding their talent into our network in the coming months. TRIPLE becomes part of LBi at an exciting time, when the company is experiencing growth in all key markets and strong demand from clients for an agency with the strategic maturity to help grow brands globally. The acquisition of TRIPLE will dramatically improve LBi’s strategic capabilities in the Nordic region.”
Triple Copenhagen MD Bettina Sherain states “We are thrilled to join the LBi family. It is a unique opportunity to strengthen our focus of delivering value to our clients by ensuring that they benefit from the global reach of LBi and their strong network of deep digital expertise. This is an advantage few digital agencies in Denmark can present. To us, this partnership represents a well-timed stepping stone towards building an agency truly made for the digital age”.
The new management team, consisting of CEO Bettina Sherain and COO Jonas Bechlund (both co-founders of TRIPLE), will take care of the day to day operations in Copenhagen. The future Danish office will house +70 digital natives with extensive expertise in all aspects of the digital landscape.
TRIPLE realized net revenue on approximately EUR 3.6 million for the full year of 2009 and is highly profitable.
The total purchase price will be determined on an earn-out arrangement. LBi expects this acquisition to be EBITDA and earnings accretive with immediate effect.
About TRIPLE COPENHAGEN:
TRIPLE Copenhagen is a digital agency working with Danish and international companies to transition their marketing efforts into leveraging digital media to meet business and communications objectives. The company was founded in August 2007. Today, TRIPLE Copenhagen employs 28 professionals with significant experience within the areas of digital strategy, creative and IA, branded content, technology and analytics. TRIPLE Copenhagen works with clients including Rezidor Hotel Group, IKEA, Hotel Missoni, and DONG Energy.
LBi is a global digital marketing and technology agency, blending insight, creativity and expertise to solve business problems. The largest genuinely full service agency of its kind in Europe, LBi provides the full range of digital capabilities, including digital strategy, branded content, service design, media, CRM, technology, managed hosting and support services. The Company employs approximately 1,400 professionals located primarily in the major European, American and Asian business centers; such as Amsterdam, Atlanta, Berlin, Brussels, London, Milan, Mumbai, New York, Paris and Stockholm. LBi is listed on Nasdaq OMX in Stockholm and NYSE Euronext in Amsterdam (symbol: LBI). www.lbi.com
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