Olswang scoops fourth photon buy

Olswang has advised communications company Photon Group on its largest acquisition to date.

The company has bought independent communications planning agency Naked Communications in a deal worth £16.5m.

The purchase follows a trio of acquisitions by Photon in Europe, with Olswang and its Australian best friend Gilbert & Tobin advising on all three deals (The Lawyer, 26 November 2007).

The firms advised Photon on the acquisitions of: UK-based Frank PR; North by Northwest Group, the holding company for PR agencies Hotwire and Skywrite; and marketing services company Sledge.

The Naked deal spanned a number of legal jurisdictions, including the UK, US, France, Scandinavia, Australia, Benelux and Japan, which all have Photon subsidiaries.

Osborne Clarke advised Naked, led by corporate partner Tim Birt, while partner David Roberts led the Olswang team.