HOUSTON, May 1, 2017 /PRNewswire/ -- MMI Agency (http://www.mmiagency.com), a leading media innovation agency headquartered in Houston, Texas, announced today that Stagwell Media, LLC has acquired a minority stake in the company.
"MMI Agency is a new breed of marketer that combines data, creative and media innovation to connect leading brands to influential consumers," said Mark Penn, Managing Partner and President of The Stagwell Group. "MMI Agency is the type of innovative agency that Stagwell Group is focused on supporting."
"At MMI, we leverage the power of the connected social world to engineer meaningful conversations between brands and their consumers. We do this by diving deep into the digital footprints of consumers to gain relevant insights into their behavior and understand what really drives them. By partnering with the Stagwell Group, we believe we will be able to bring additional scale, resources and talent to our clients," says Benjamin Spiegel, CEO of MMI Agency.
MMI Agency President & Founder Cindy Marion will continue to manage agency operations day to day and holds the majority ownership stake. The Stagwell Group has an option to acquire a majority stake in the future. Other terms were not disclosed.
This is Stagwell's 12th investment in under two years. Other members of the Stagwell Group family include: research leader Harris Insights & Analytics, performance marketing firm PMX Agency, creative digital leader Code and Theory, strategic communications agency SKDKnickerbocker, entertainment research innovator National Research Group (NRG), public relations firm Finn Partners, communications agency Wye Communications, digital advocacy shop Targeted Victory, creative advertising consultancy Wolfgang and technology innovator Stagwell Technologies.
ABOUT THE STAGWELL GROUP
The Stagwell Group LLC is a registered investment advisory company formed by Mark Penn who serves as the Managing Partner of Stagwell Media LLC, a private equity fund. The Stagwell Group portfolio includes collaborative, digital-first agencies. The fund previously announced it has raised $250 million in capital and may leverage that to make up to $750 million in acquisitions. Online at www.stagwellgroup.com.
ABOUT MMI AGENCY
MMI Agency is a fully integrated innovation agency that delivers unquestionable value through creative, innovative media, insights, communications and social media. MMI Agency tracks consumer behavior to ignite conversations between brands and their consumers at moments that matter most to them. It is this approach that produces results and empowers brands across MMI Agency's diverse client base. For more: www.mmiagency.com.
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SOURCE MMI Agency