It is understood that M&C Saatchi paid in excess of £6 million for the ten-year-old LMFM after talks that began 12 months ago.
The sum will be split between its four founders – Dave Cox, Dave Bedwood, Tom Bazeley and Sam Ball. There is no earn-out based on future performance but an incentive scheme is in place.
The 40-strong LMFM, whose clients include Unilever and De Beers, will be integrated into M&C Saatchi’s Golden Square headquarters next month, with the LMFM brand disappearing.
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