Fat Media has acquired the top-ranked digital marketing agency this week for a nominal sum of £1.
Founded in 1996, Reading Room is a full-service digital agency that delivers solutions for clients across UK and Europe. It was ranked seventh in B2B Marketing’s Agencies Benchmarking Report 2018.
The agency works in a wide range of industries, from public sector to retail and offers services including user experience, web design and development, SEO and multi-channel digital advertising. Its clients include Kingspan, Middlesbrough Football Club, Taylor Wimpey, Countryside Properties, UK Coaching and The Royal Household.
Software group Idox previously acquired Reading Room in 2015 in a £5.6 million deal. The group recorded a loss of £3.2 million in its digital division for the financial year ended 31 October 2017.
Following news of the sale, Idox said this disposal allows for additional focus on the group’s core operations and further improvements in its operating model.
David Durnford, CEO of Fat Media Group, said: “We are delighted to have the opportunity to bring Reading Room into the Fat Media Group family. Reading Room will retain its identity and will be a distinct business unit within the Fat Media Group, collaborating with teams on clients and projects across the Group.”
Jamie Griffiths, managing director of Reading Room, said: “We have been focused on finding a new home for Reading Room, where we can collaborate with like-minded talented individuals. Joining the well-established, well respected Fat Media Group will energise our team, and continue to build on Reading Room’s current high-profile positioning within the digital agency sector.”
