Upcoming takeover of Engine U.K. by Communications company
In a potential shakeup within the communications industry, it has been reported that Next15, a well-established growth consultancy, is in discussions to acquire the U.K. sector of Engine Group. According to Sky News, who first broke the news, the deal is expected to be finalised before the end of February, with an asking price of around £100 million.
The sale, which has been ongoing for several months, is not the first time Next15 and Engine Group have had business ties. Jonathan Peachey, Next15's current Chief Operating Officer, previously sold his business to Engine Group and subsequently joined their executive team. This prior consolidation between the entities suggests a history of collaboration.
However, the future of Engine Group's operations in the U.S. and APAC regions remains unclear. Adweek has spoken to four sources with knowledge of the deal, but no definitive information about the fate of these sectors has been disclosed. Discussions regarding the U.S. side of the business are ongoing, and no concrete decisions have been made public.
It is worth noting that Next15 operates as a sizable firm with substantial revenues and market presence, as indicated by its financials compared to competitors. Yet, no acquisition news directly tied to Engine Group has been reported in the given context.
With no recent public announcements confirming the sale or the divestment of Engine Group’s U.S. and APAC operations, it appears that the sale, or at least the details regarding the international sectors, is either not occurring presently or has not been publicly disclosed.
As the situation develops, it is advisable to monitor official announcements from the companies or relevant industry news sources for updates on this potential deal and the future of Engine Group's global operations.
The ongoing sale of Engine Group's U.K. sector to Next15, if finalized, may mark a significant step in the finance world, with potential implications for both companies' business ventures. Furthermore, the history of business ties between Next15's current COO and Engine Group hints at a potential capital merger within the industry.
