LBi admits to discussions with 'potential suitors' over acquisition following AKQA deal
LBi, the International digital agency has admitted following press speculation that it is talking about potential acquisitions from ‘potential suitors’.
The Amsterdam-based independent digital marketing company has released a statement, following the $540m acquisition of AKQA by WPP last week, admitting that it is in the early stages of discussing acquisition deals.
“The Company has, for some time, received interest from potential suitors and, more recently, commenced initial discussions with third parties interested in pursuing further consolidation in the sector. Such discussions are at a very preliminary stage and there can be no certainty that an offer will be made for the Company.
“The Board believes LBi has taken significant steps in recent years to reposition the Company and is well placed to continue to operate independently. LBi has strong prospects as the world's largest independent marketing and technology agency with offices in 16 countries,” the statement added.
Last week, following the announcement of the AKQA deal, Tony Walford of Green Square predicted such a development while speaking to The Drum.
He stated: "The one to watch now is LBi, another huge digital business also backed by private equity which will have an equally high price tag. If it is not already being heavily targeted by the global marcoms groups who, let's face it, are the only players capable of paying such sums, then it certainly will be shortly."
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