LBi International NV, an independent global marketing and technology agency, purchased Mr Youth, a social media and marketing agency. The deal is valued between $40-50 million, includes a performance-contingent pay-out structure, and is expected to contribute positively to LBi's earnings per share.
LBi plans to incorporate Mr Youth's technology platforms and distribution channels, including RepNation (www.repnation.com) and CollegeFest (www.collegefest.com). Mr Youth will operate as a division of LBi. Matt Britton will remain CEO of Mr Youth and will report directly to LBi CEO Luke Taylor.
Mr Youth's goal is to drive engagement with younger consumers and create lasting brand advocacy through interactive experiences with social media and experiential and word-of-mouth marketing. The company expects net sales of approximately $25 million in 2011.