Interactive advertising group Q Ltd has forked out more than $1.3m to buy online marketing agency Freestyle Media.
Q Ltd paid $1,362,000 in cash and shares for Freestyle, with deferred consideration tied to future earnings of the company until the end of 2009.
Freestyle, which develops online strategies to maximise consumer interaction with brands, plans to increase staff numbers to 20 to 25 by the end of 2006 and will be opening a Melbourne office next month.
Kevin Campbell, Q Ltd’s chairman said "Freestyle compliments Q Ltd’s expansion with services that continue to add value and breadth to the interactive advertising and marketing services of the Group. We believe there will be strong synergy gains between Freestyle and the rest of Q Ltd."
