Photon has big plans for Naked Communications
After the fresh off the press release regarding Photon buying Naked it appears that the Australian group has some rather large plans for Naked Communications. There has been some criticism over the perceived undervalued purchase price of Naked, hence the joke goes Photon has big plans for the Agency with all that left over cash.
Mr Hughes said there was an opportunity for Naked to become the next McKinsey or Bain & Company in media and communications and Photon had allocated an initial $5 million in working capital for the establishment of new offices - Shanghai, Beijing and Mumbai are at the top of the list. Further expansion in Europe and Latin America was also on the table.
“Our internal budgets are $5 million but we’ll give them whatever it takes,” he said.
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