The initial consideration for the acquisition is approximately US$9mln, which will be settled in full in cash. Should Activate hit various performance targets over the next five years, that figure could rise to as much as US$48mln.
Tim Dyson, Chief Executive Officer of Next15, commented: “Next 15's strategy is to build and buy data and technology-driven businesses that enable companies to do world class marketing.
“Activate very much fits into that strategy by using a mix of data and technology to deliver high value, qualified sales leads to its clients.
“This product set fits alongside our other sales engagement products from Agent3 and Twogether. Couple this with the quality of the leadership team at Activate and you have a great addition to the Next 15 Group.”
As for the placing, NFC sold 4.21mln new shares at 475p a share – a 2.2% discount to the market value a day before the placing.
As well as funding the Activate acquisition, Next Fifteen said the money would also give it some ammunition to take advantage of “a number of other acquisition opportunities” in the data marketing and technology-driven research space.