Avenue A/Razorfish Enters Germany With Neue Digitale Buy
AQuantive Inc.'s Avenue A/Razorfish, the nation's leading interactive marketing agency, bought Neue Digitale, a German creative shop with clients like Coca-Cola, Germanwings, Olympus Europe, adidas and DaimlerChrysler.
A much-awarded interactive marketing specialist, the 44-person Neue Digital will operate as a wholly owned subsidiary of Avenue A/Razorfish, Seattle.
The Frankfurt agency will retain its brand identity and current management team, including managing director Andreas Gahlert and creative director Olaf Czeschner.
The all-cash purchase involves an earn-out arrangement based on profit contributions over the next three years and the agency's net asset value Aug. 3. Cash payments of $5.7 million are guaranteed as an advance on the earn out.
Neue Digitale expects net revenue of $2.8 million to $3.3 million for the rest of this year.
Avenue A/Razorfish has 12 U.S. offices, the DNA agency in Britain and Amnesia in Australia. The latest acquisition gives Avenue A/Razorfish access to yet another of the biggest ad markets in Europe.