By Kevin McCauley
Britain’s Huntsworth has acquired high-tech Atomic PR, the fastest growing independent firm on O’Dwyer’s Top 50 list, for $13.3M.
The price tag could hit up to $50M based on profit performance of the San Francisco-based firm through 2015.
Atomic CEO Andy Getsey says the deal with Huntsworth provides his firm the “scale and geographic reach” to provide the best service to clients.
The firm handles clients such as LinkedIn, Verizon, Intuit, Pioneer Electronics and NETGEAR. It becomes part of Grayling under the management of Getsey and James Hannon, chief digital officer and Atomic co-founder.
Previous to the deal, Atomic had a joint venture with Grayling. Atomic has offices in New York, Los Angeles and London. It registered a 46 percent surge in 2010 fees to $11.1M.
Reports $40M Profit, Flies with British Airways
Huntsworth also March 23 reported 2010 revenues rose 11 percent to $282M while operating profit hit the $40M mark compared to a $13M year earlier deficit.
"Profit before highlighted items" rose 14.8 percent to $48.2M.
CEO Peter Chadlington said with the completion of Huntsworth’s reorganization the firm is winning “more large mandates” than was formerly possible. He is eager to “convert our expanding international pipeline into new clients.”
British Airways is putting the finishing touches on a three-year contract beginning April 1 with Huntsworth’s Grayling unit. That job covers PR in 38 countries.
In December, Grayling notched a contract with electronic toll collector Kapsch Telematic Services, which has an eight-year pact with the General Directorate for National Roads and Motorways.
Grayling is Huntsworth's largest operation with revenues of $135M. It is followed by Huntsworth Health ($83M), Citigate ($42M) and Red ($21M).