NEXT Fifteen has taken a 51 per cent stake in Republic Publishing, the Clerkenwell-based website creator with clients including Vodafone, Nokia and O2, the communications group reported yesterday.
Republic reported profits of £400,000 during the year to 31 October on revenues of £2.5m.
“We believe there is so much opportunity in continuing to deliver quality content across the paid, owned, earned and social space, and having an international platform to grow makes this partnership hugely exciting,” Republic Publishing managing director James Beechinor-Collins told City A.M.
“We are delighted to join the Next 15 Group.”
Next Fifteen said the deal would add to its growing portfolio of digitally focused businesses which includes two agencies, Beyond and Connections Media.
Two of Republic’s three founders, James Beechinor-Collins and Michael Cooper, will remain with the firm following the deal, while Clive Swan will resign as the company’s chairman.
Next Fifteen also reported a strong start to 2014 yesterday, with trading inline with expectations.