February 11, 2006

Acquisition fever coming to the tech sector?

PR Week has some gems in its feature "The Valentine's Matchmaker" this week.

Aparently neither Chime (owner of Bell-Pottinger, Harvard and Insight) nor Huntsworth (owner of Citigate and Red) "will ignore a good opportunity in the increasingly attractive areas of public affairs, healthcare and technology." Lorna Tilbian of Numis Securities, house broker to both firms, is quoted as saying "If you can offer them a well-run agency with growth potential in these practices, they'll buy it."

Don Elgie, CEO of Creston (the owner of Nelson Bostock) is also "looking for consumer and tech practices to help him out of Nelson Bostock's conflicts."

And Hotwire was up for sale last year but is now off the market. It failed to find a buyer "partly, it is said, because co-founders Kristin Syltevik and Anthony Wilson, wanted to leave upon completion of a deal."

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