[Denmark] LBi International, the global marketing and technology agency, is to acquire TRIPLE Copenhagen, a 28-person strong digital agency based in Denmark whose clients include Rezidor Hotel Group, IKEA, Hotel Missoni, and DONG Energy.
The total purchase price will be determined on an earn-out arrangement. LBi expects this acquisition to be EBITDA and earnings accretive with immediate effect.
The acquisition will result in the merger of LBI’s Danish operation and TRIPLE Copenhagen, resulting in a new company called TRIPLE LBi made up of 70+ experts in “all aspects of the digital landscape.” A new management team, consisting of CEO Bettina Sherain and COO Jonas Bechlund (both co-founders of TRIPLE), will take care of day to day operations in Copenhagen.
In 2009 TRIPLE achieved net revenue of approximately €3.6 million and is described as being “highly profitable”.
LBi is listed on the Nasdaq OMX in Stockholm and NYSE Euronext in Amsterdam. The global company, which employs around 1,400 staff located primarily in the major European, American and Asian business centers, provides a full suite of digital services including: branded content, service design, media, CRM, technology, managed hosting and support services.