Next Fifteen takes minority stake in Lexis

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Posted By: Morgan McLintic August 7, 2005

Next Fifteen Communications, the parent company of Text 100, Bite and now Outcast, has taken a 25% minority stake in UK firm, Lexis Public Relations. Lexis has revenues of £4.7m ($8.3m) and profits of £580,773 ($1m). Next Fifteen is paying £1.27m ($2.25m) for the 25% stake, with a view to acquiring the rest of the company by 2010, and taking a majority share during 2006. The deal is capped at £10m ($17.8m) with at least 25% of the payment being in NFC shares.

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