Avenir Global Buys Three of Next 15's Agencies for $95 Million
The Montreal-based communications holding company picked up Outcast, Archetype, Nectar, and the Delve media-intelligence platform from Next 15 Group, pushing its headcount to roughly 1,500.
Avenir Global is paying $95 million in cash for Marker Collective, a bundle of three tech-communications agencies, Outcast, Archetype, and Nectar, plus the Delve AI media-intelligence platform, from UK-based Next 15 Group. The deal brings roughly 650 staff across 20 offices in the US, UK, Europe, and Asia under the Avenir umbrella.
Marker posted $9.8 million in operating profit for its fiscal year ended January 31, and Helena Maus will keep leading it as a standalone unit inside Avenir, which also owns Canada's top PR firm, NATIONAL Public Relations, and US firm Padilla. The acquisition pushes Avenir's total headcount to about 1,500. "We believe in the value of communications and advisory firms," said Avenir CEO Jean-Pierre Vasseur. "Marker fits well with that approach."
For Next 15 Group, it's a $95 million admission that even a holding company built on buying agencies occasionally needs to sell a few back.
Source: O'Dwyer's PR
Kyle Duford, Founder & Editor, BRNDWIRE. More from Kyle →
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