"In the transition to digital, performance marketing is one of the most important fields for our clients and the team at PMX Agency has a tremendous amount of experience helping companies, particularly in the retail world, transform successfully," said Stagwell Group President and Managing Partner Mark Penn.
With three hundred professionals across the United States, PMX Agency is well-suited to help companies with complex customer needs in a digital age. PMX Agency has been awarded Google Premier Partner status, and has top level relationships with Yahoo, Bing and best-in-class tools and platforms, such as Kenshoo, Adobe, DoubleClick, and MediaMath. The agency and its leadership are regularly cited by a diverse set of publications including AdWeek, Business Insider, MediaPost, Advertising Age, and Digiday.
"We are thrilled to join the Stagwell Group given their expertise and knowledge in helping digital companies grow," said co-CEO Chris Paradysz. "With the transformation in how consumers live, buy, and communicate, our client's business needs are increasingly complex and joining Stagwell will enable us to help brands drive powerful consumer engagement."
"We operate across experiences from paid search to direct mail," said co-CEO Mike Cousineau, "and we know that our integrated approach produces great results for clients."
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. This is Stagwell's fourth acquisition in the marketing services industry, joining strategic communications firm SKDKnickerbocker, entertainment research firm National Research Group, and digital marketing agency Code and Theory. The fund previously announced it has raised $250 million in capital and may leverage that to make up to $750 million in acquisitions.
PMX Agency will continue to operate independently within Stagwell Group LLC as a stand-alone agency run by the current management team.
BTIG LLC, a global financial services firm, served as financial advisors to PMX Agency throughout this process. The terms of the deal were not disclosed.
For questions please contact Julia Schechter at Jschechter@SKDKnick.com or 646.560.5424.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/stagwell-media-acquires-majority-stake-in-pmx-agency-an-integrated-performance-driven-marketing-firm-300307611.html
SOURCE The Stagwell Group