Naked Communications has been acquired by the Australian group Photon in a deal that includes an initial upfront cash payment of £16.5 million according to the Brand Republic with a pay out structure over four years dependent on achieving growth targets. Naked was founded in 2000 by Will Collin, John Harlow and Jon Wilkins. Advertising agency Mother is also a shareholder.

What we can say about Naked is that we adore the folks in its New York office and that they landed a coup when they scooped up Kimberly Clark. In early January, we also know that managing partner Niku Banaie quit (though LinkedIn still has him at the agency). He had joined the agency in 2003 and made managing partner two years ago. Naked made noise about “restructuring” back in December. Apparently, he was a position overseeing Naked and its brand activation arm Lunch, but declined the opportunity. Is that because he knew the shop was getting sold? Betcha. Betcha cash money. Hope he had some shares still.