European digital ad holding company LBI bought New York-based interactive marketing firm Special Ops Media in a bid to expand operations in the U.S. Special Ops had $22.3 million in gross billings in 2007, net sales of $10 milllion and EBIDTA of $4 million. The purchase price is between $20 million and $45 million in cash and stock, depending on an earn-out.
Special Ops has done campaigns for NBC, Universal Music Group, Reyka Vodka, Coca Cola, Nintendo and Walt Disney. The company, founded in 2002, has 64 employees. Investment bank DeSilva and Phillips handled the deal for Special Ops.
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