Photon to merge Bellamyhayden into Naked
Both agencies offer market research services and are part of the group’s strategic intelligence division.
Bellamyhayden co-founder Phil Hayden, who will join Naked as a partner, was quoted by mumbrella.com saying: “Bellamyhayden and Naked have similar offerings in, and differentiations from, the market, and highly successful track records. We felt combining made it possible to accelerate our respective growth plans and provide any client looking for a strategically driven offer with the best resource in the market.”
The merger is due to be completed within the next few weeks, when Bellamyhayden staff will move into Naked offices in Sydney and Melbourne.
Parent company Photon, led by CEO Jeremy Philips (pictured), is currently looking to raise more than A$100m through a new stock offering to solve money troubles resulting from acquisitions.
The group ran into difficulties when it was unable to meet A$176m of earn-out commitments to the owners of agencies it had bought.
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