Trinity Mirror acquires web agency Rippleffect
Newspaper publishing giant Trinity Mirror has acquired Liverpool-based digital agency Rippleffect, in a deal worth up to £5.8million.
The publishing giant, which owns The Mirror newspaper as well as a host of regional titles, has paid an initial £3.2million for the firm, which could rise by a further £2.6million if the agency meets 'specified operating targets' over the next three years.
Trinity Mirror say the acquisition will allow the firm to diversify its digital revenue streams alongside its print offerings, with Rippleffect expected to generate £3.2million in revenue in its first year of new ownership.
It is understood that Rippleffect's experience with sport, leisure and retail websites was a convincing factor in Trinity's decision to acquire the firm. Rippleffect clients include football clubs Everton, Celtic and Fulham, Total Fitness, and corporate firms including Mercedes Benz and Littlewoods.
Trinity hope the acquisition will complement its own Sport Media business, which publishes a range of specialist sports titles including the matchday programmes of Liverpool and Everton football clubs.
Sly Bailey, Trinity Mirror CEO, said: "This acquisition brings together Trinity Mirror's specialist sports publications and Rippleffect's specialist sports web development under one roof, enabling us to substantially grow our revenues in this important sector."
Rippleffect managing director, Ben Hatton (pictured), will continue to lead the business which he formed in 1999.