UK-based PR and digital communications group Next Fifteen, parent company of agencies Text100, Bite, M Booth, Lexis and The OutCast Agency, has acquired tech content and digital media agency Pinnacle Marketing Communications

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The acquisition was initially valued at £4.4 million (about $5.7 million), of which £4 million will be paid in cash, according to a statement issued today by Next Fifteen.

London-based Pinnacle specializes in technology marketing and social media campaigns for clients in the electronics, telecom and industrial engineering sectors. Clients include Toshiba Electronics, Sandvik Coromant and European Telecommunications Standards Institute. Approximately a quarter of Pinnacle's revenue derive from U.S. business, according to the company. The shop was co-founded in 1996 by Simon Flatt, who also serves as managing director. The firm staffs about 30 employees.

Pinnacle retains its office, brand and staff in light of its acquisition by the London-based holding company. Pinnacle will now be managed as a sub-brand under the same umbrella as Publitek Limited, the UK-based B2B content marketing shop that Next Fifteen acquired in March. Those companies will work closely together and operate under a unit titled Publitek Group. Flatt will now wear the title of Publitek Group president.

“The acquisition of Pinnacle helps us to address the strong demand for highly specialized technical content that resonates with niche, professional audiences,” Next Fifteen CEO Tim Dyson told O’Dwyer’s. “We acquired B2B content marketing business Publitek earlier this year to improve our capabilities in this area. Following this most recent acquisition, the combination of both Pinnacle and Publitek’s expertise will hugely enhance our offering in the technical marketing sector.”

“We have every confidence that the two businesses will successfully complement each other, supported by the respective principals’ history of working together, while each retaining their distinct brands and client relationships, and their geographical independence,” Dyson said.

Next Fifteen earlier this year also acquired London-based creative agency ODD and Marlow-based digital shop together, and last year picked up content marketing firm Republic Publishing and London's digital marketing agency IncrediBull World, the latter of which was integrated into Text100.

Next Fifteen revenues, profits climb

The acquisition coincides with the announcement of Next Fifteen’s half-year financials. The PR and marketing group today reported revenues of £80.5 million (about $104.4 million) for the first six months of the year ending July 31, revealing growth of 30.3 percent. Organic revenue was £12.8 million (about $16.6 million), revealing a 50.6 percent surge during this period. Next Fifteen also reported a 54.2 percent leap in operating profit to £11.1 million (about $14.4 million) and a 47.2 percent rise in headline profit before tax to £10.6 million (about $13.8 million).

Among the company’s U.S. business, organic growth was 17.2 percent. U.S. revenues grew 27 percent to £50.7 million (about $66 million), led by strong performances at Outcast, M Booth, Beyond and Bite.

Google remains Next Fifteen’s largest client by revenue.

Next Fifteen chairman Richard Eyre in an earnings statement referred to the performance as “very encouraging” and said the company was poised to meet its projected benchmarks.