Stockholm/Amsterdam, 7 April 2008
LBI International AB ("LBi"), the global marketing and technology agency today announces acquisition of the full-service interactive agency Special Ops Media in New York, US. Special Ops has a strong national reputation and specializes in online marketing & strategy, online media (planning and buying), creative services and online publicity for a wide variety of major national and international brands.
LBi CEO Luke Taylor states "In the strategic roadmap, released earlier this year, we communicated our intent to extend and deepen our service offer in the United States. The acquisition of Special Ops perfectly delivers on this ambition and adds a best in class strategic marketing and media capability to our US business. Special Ops have, in particular, unique skills in innovative social network marketing and online PR. We plan to leverage this capability across our global footprint on the back of strong client demand for these specialist services.
Special Ops co-CEOs Christian Anthony and Jason Klein state "We believe that LBi's global reach, stellar reputation, deep digital expertise, entrepreneurial culture, and seasoned management present the perfect partnership opportunity. We are thrilled to be joining LBi after 5 years of strong growth, innovation and award-winning client service at Special Ops, and we look forward to building the premier global digital agency together."
LBi US Chief Operating Officer Gavin Fraser adds "The Special Ops team compliments our existing US businesses very well, in particular strengthening our offerings in strategic marketing, communications and media. Our clients need agencies expert in all aspects of the digital landscape, and with the addition of Special Ops we more than ever are in position to serve our clients exceptionally well."
Over 2007 Special Ops realized gross billings of USD 22.3 million, net sales of USD 10.1 million and EBIT of USD 4.0 million. The agency today has 64 employees.
The total purchase price will be in the range of USD 20-45 million (dependant on an earn-out arrangement based on future performance) and can partially be paid with shares. Special Ops will be consolidated as per 1 April 2008 and be EBITDA and earnings accretive with immediate effect.
For further information please contact: Luke Taylor, CEO, LBI International AB
+44 7976 619 022,
luke.taylor@lbi.com Christian Anthony, co-CEO, Special Ops Media
+1 212 219 0600,
Christian@specialopsmedia.comJason Klein, co-CEO, Special Ops Media,
+1 212 219 0600,
jason@specialopsmedia.com Huub Wezenberg, acting CFO, LBI International AB
+31 20 460 2980,
huub.wezenberg@lbi.comEva Ottosson, Group Communications Manager, LBI International AB
+46 709 41 21 40,
eva.ottosson@lbi.comAbout LBi: LBi is the global marketing and technology agency The Company employs approximately 1,500 professionals located primarily in the major European, American and Asian business centers, such as Amsterdam, Berlin, Brussels, London, Milan, Mumbai, New York, Paris and Stockholm. LBi blends the full range of service disciplines to create innovative multichannel solutions for national and international corporate clients. By combining business and media strategy development with creative design, industry expertise and the latest digital communications technology, LBi offers a unique, and uniquely valuable proposition. LBi is listed on OMX Nordic in Stockholm and Euronext in Amsterdam as (symbol: LBI).
About Special Ops Media: Special Ops Media (SOM) is a full-service interactive agency that provides clients with the opportunity to have all of their online needs serviced within a single organization. SOM has achieved a national reputation for their expertise in online marketing & strategy, online media (planning and buying), creative services and online publicity. SOM's highly original and well-orchestrated digital campaigns employ viral initiatives, guerrilla marketing and other grassroots tactics, in addition to traditional interactive advertising methods. Since its founding in 2002, SOM has created and managed innovative and attention-grabbing campaigns for a wide variety of major national and international brands including, but not limited to: Citigroup; The Coca-Cola Company; Hachette Filipacchi, Harper Collins, Scholastic, Penguin Publishing; Dell Computer; MTV, Spike TV, NBC Universal, AMC, The Sundance Channel, Lionsgate Entertainment, Paramount, Universal Music Group, Capitol Records, Columbia Records, EA Games, Ubisoft, Atari and Proximo Spirits. For more information, please see
www.specialopsmedia.com.