*** Update 9:54am ***
The announcement has been made and the trading halt has been lifted. The ASX filing here

In a stunning piece of acquisition action, Photon Group Limited (ASX: PGA )has acquired independent planning shop, Naked Communications. There is currently no announcement of the acquisition lodged with the ASX, but according to sources, the deal includes an initial upfront cash payment of £16.5 million.

Photon entered a trading halt last night, and are expected to resume this morning according to an ASX filing.