LBi Buys Indie Web Shop Special Ops
NEW YORK European marketing and technology firm LBi has acquired independent digital agency Special Ops Media.
The deal is valued between $20-45 million, depending on whether Special Ops meets earn-out targets. Special Ops has 64 employees. It had $22.3 million in gross billings, just over $10 million in net sales and $4 million in earnings before interest and taxes.
With the deal, Stockholm- and Amsterdam, the Netherlands-based LBi will strengthen its presence in the U.S. market, where it also owns New York interactive shop IconNicholson.
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