Revealed: Accenture Paid A Whopping $63 Million For The Monkeys

Revealed: Accenture Paid A Whopping $63 Million For The Monkeys
SHARE
THIS



It appears guesstimates of The Monkeys’ price tag to Accenture – widely rumoured around the $20-$30 million mark – were way off, with revelations today the consultancy firm paid a staggering $63 million for Australia’s largest independent agency.

The Australian Financial Review has this morning reported the huge sum after it managed to procure documents filed with securities regulator the Australian Securities and Investments Commission.

What makes the $63 million booty so massive is the relatively small turnover and profit by The Monkeys in comparison.

As had been widely reported previously, The Monkeys, with 130 full time staff, made $21.6 million in revenue in the financial year to June 2016 and only $2.45 million of that was profit.

Based on that figure, the deal with Accenture was clearly based on three times the annual revenue turnover.

The AFR has reported that, “The purchase price will be divided in the typical fashion between an upfront payment and an earnout period. The key performance indicators, or key metrics, used to determine the success of the deal, and the earnout, are mostly based around staff retention.”

What is not clear is The Monkeys’ founders continuing role in the business. Scott Nowell, Mark Green and Justin Drape have all publicly stated they will stay with the business, but for how long is anyone’s guess. With such a windfall under their belts a new venture should surely be in the offing?

Back in May, when the Accenture deal was struck, The Monkeys’ CEO, Mark Green, said it “would be business as usual”and the sale was “the natural evolution in the agency’s life”.

Green also revealed there had been other offers on the table, which can now be revealed as having come from PwC.

At the time Green told B&T“After almost 11 years we were looking at different ways to keep growing and learning new things and this presented a really good opportunity to do just that.

“The whole industry is undergoing so much change because that’s because what clients want is changing so rapidly. So, from that standpoint, it didn’t feel odd to us.”

Alongside Green, Drape and Nowell, the other owners of The Monkeys include executive planner Fabio Buresti, David Park, the owner of design agency Maud which was part of the Accenture deal, Nicholas Jackson, a managing partner at Maud, and Matthew Michael, a managing director at The Monkeys.

Latest News

Women In Media Profile: Aimee Buchanan
  • Media

Women In Media Profile: Aimee Buchanan

No Women in Media series would be complete without the irrepressible Aimee Buchanan. Read all her pressibles here.

by B&T Magazine

B&T Magazine
MS Queensland Unveils ‘MS Stops You In Your Tracks’ Campaign
  • Campaigns

MS Queensland Unveils ‘MS Stops You In Your Tracks’ Campaign

An MS diagnosis – at an average age of just 30 – means a lifelong battle with a disease that attacks the central nervous system in any number of ways. While most people have heard of multiple sclerosis, few understand what it is or how it impacts people’s lives. In partnership with MS Queensland, creative […]

Revealed: The Real Voice Behind Siri
  • Technology

Revealed: The Real Voice Behind Siri

For the third consecutive year, TEDxSydney selected creative agency BMF to produce a film for its 2018 film program under the theme ‘Humankind’. The film, which premiered on Friday in front of 5000 people at TEDx Sydney, unmasks the real genius behind Apple’s personal assistant Siri. “Siri is an amazing invention. You can ask her […]

MercerBell Calls In Two New Data Hires
  • Marketing
  • Technology

MercerBell Calls In Two New Data Hires

Proving many photos shot on an iPhone so often come out washed-out and grainy comes this article's accompanying pic.

Intrepid Travel Go Back 30 Years, Posting Classified Adverts In Newspapers
  • Campaigns

Intrepid Travel Go Back 30 Years, Posting Classified Adverts In Newspapers

Intrepid Travel has gone back in time and is placing classified adverts for a new ‘mystery expedition’ to places that yet mapped by Google.  The adverts to be placed in Courier Mail, Herald Sun and Sunday Telegraph are calling for intrepid people to join a journey with “long travel days, intermittent electricity, no Wi-Fi, cold […]

Watching tv and using remote control
  • Advertising
  • Media

GroupM Investment Forecast For Australia: TV On The Rise As Digital Slips

GroupM has updated its 2018 ad investment forecasts and released its initial 2019 outlook. GroupM predicts $24B in net new advertising investment this year, the best annual increment since the bounce back from the global recession in 2010 when $26B was added to investment. GroupM estimates total advertising investment will grow by 4.5 per cent this year […]

Indigenous Campaign Deemed Too Controversial By APN Media To Run
  • Advertising
  • Campaigns

Indigenous Campaign Deemed Too Controversial By APN Media To Run

Aboriginal Victoria’s campaign in support of Australia’s first-ever treaty legislation, Deadly Questions, has been deemed too controversial to run by one of Australia’s leading outdoor media providers, APN Media. Online platform Deadly Questions provides a safe space for people to ask questions and have them answered by Aboriginal Victorians, to learn more about their cultures, […]

Introducing: YouTube Music Australia
  • Technology

Introducing: YouTube Music Australia

The wait is over! Starting today, YouTube Music is available to everyone in Australia, New Zealand, the U.S, Mexico and South Korea in addition to 12 new countries including Austria, Canada, Finland, France, Germany, Ireland, Italy, Norway, Russia, Spain, Sweden, and the United Kingdom. Now fans around the world can find more of the music […]

Will PR Finally Earn Its Stripes At Cannes This Year?
  • Opinion

Will PR Finally Earn Its Stripes At Cannes This Year?

In this guest post, Haystac’s national general manager, Jason Carnew (pictured below), says with all this talk of Cannes at this time of year, it’s a kindly reminder that the PR business needs to get its act together in terms of awards, work and judging… All eyes on are Cannes as some of the best […]

Opinion

by B&T Magazine

B&T Magazine
Ex-DDBer Unveils Designer Headscarves For Cancer Survivors
  • Campaigns

Ex-DDBer Unveils Designer Headscarves For Cancer Survivors

Two-times cancer survivor, Frankie Good Stuff Award Winner, ex-DDBer and founder of Bravery Co. Emily Somers has collaborated with a range of top-notch illustrators to produce Australia’s first range of designer headscarves for young cancer warriors. She is now crowdfunding $40,000 to produce the scarves and donate one to all the young women in their 20’s […]

New Advertising Platform Launches Down Under
  • Advertising

New Advertising Platform Launches Down Under

Following its massive success in Europe, Asia and the UAE, the Polishoe concept, which brings a high-demand shoe polish service and HD digital advertising platform together, has landed in Australia.

Set for blue sky, different clouds icons, cloud shapes, labels, symbols, icons. Flat graphic vector elements
  • Technology

PubMatic Unveils Cloud for Publishers And Tech Companies

PubMatic has launched PubMatic Cloud for publishers and tech companies looking to implement and control their own programmatic technology. By accessing PubMatic’s technology, global infrastructure and demand connections on a platform-as-a-service (PaaS) basis, clients are able to achieve full transparency and achieve greater control over their programmatic monetization. As programmatic trading becomes mainstream, innovations such as […]

Women In Media Profile: Claudine Hall
  • Media

Women In Media Profile: Claudine Hall

The Women in Media Awards are back for 2018! To celebrate this wonderful fact, and to recognise some of the killer women in our industry, we’ve created a women in media series – and have profiled some pretty inspiring women so far. This week, we chat with Bauer Media head of trade marketing Claudine Hall. […]

by B&T Magazine

B&T Magazine
Cancer Council and Target Tradies Tackle On-The-Job Skin Cancer Risks
  • Campaigns

Cancer Council and Target Tradies Tackle On-The-Job Skin Cancer Risks

Workers on construction sites receive five to 10 times more UV exposure every year compared to indoor workers. Target Tradies and Cancer Council have announced the launch of a partnership to help educate Australian construction workers about the importance of being SunSmart at work. With evidence showing that outdoor workers receive five to 10 times […]

Arq Group Activates New Branding By Hulsbosch  
  • Media

Arq Group Activates New Branding By Hulsbosch  

Arq Group has launched a new identity created by award-winning agency Hulsbosch, with the business rebranding from Melbourne IT to Arq. Previously known as Melbourne IT, the company was founded in 1996 as one of Melbourne University’s commercial ventures with the sole rights to manage .au domains in the early days of the Internet. Melbourne IT […]

Adshel Unveils ANZ Takeover Via PHD
  • Campaigns
  • Media

Adshel Unveils ANZ Takeover Via PHD

ANZ, in partnership with PHD and Adshel, have taken to the streets with a total take-over of the entire Adshel Live network. For one hour, between 8am and 9am on Tuesday 19 June, ANZ is inviting commuters to download the new ANZ app by showing six different ways the app can help them manage their […]

Carat & Initiative Share The Spoils In WA Government’s $65 Million Media Business
  • Media

Carat & Initiative Share The Spoils In WA Government’s $65 Million Media Business

IPG’s Initiative and Dentsu’s Carat have both been awarded a slice of the West Australian government’s $65 million spend. The government account is broken into two entities – campaign and non-campaign – each with its own agency roster. Carat has retained its long-standing position on the agency panel for all campaign work, which accounts for […]

A Golden Opportunity! Lucky Numbers For Sale!
  • Marketing

A Golden Opportunity! Lucky Numbers For Sale!

In case you missed it last week, a very lucky phone number – 1800 80 80 80 – is up for sale. And it could be yours!

Partner Content

by Customer Connect

The AppNexus Marketplace Launches Guaranteed Views
  • Technology

The AppNexus Marketplace Launches Guaranteed Views

AppNexus, the world’s leading independent advertising technology company, today announced the launch of Guaranteed Views, a marketplace product that changes the way advertising is bought and sold on the open internet. Guaranteed Views enables marketers and agencies to pay only for ads that are measured as viewable and is the first programmatic product that enables 100% viewable buying at scale outside of Facebook and Google.

Women In Media Profile: Kirsty Bloore
  • Media

Women In Media Profile: Kirsty Bloore

Bereft of any Monday motivation? Let today's Women in Media profile be like low-current electric waves to the brain.

by B&T Magazine

B&T Magazine