St Ives Group has closed the acquisition of London-based digital marketing company Realise Holdings Ltd. The said deal is valued at £21.7 million in combined cash and group shares, according to The Drum.
Patrick Martell, the Chief Executive Officer (CEO) of St Ives, said of the transaction: "With the acquisition of Realise, we are adding substantial depth to our digital offering and further enhancing the range of marketing services we can provide for our existing and prospective clients. Realise complements our integrated offering in the market - a combination of insight led innovation and trusted execution across digital and physical media. I am delighted to welcome the Realise team to the Group and look forward to supporting their growth plans."
St Ives purchased Realise in a bid to add digital and marketing services to its current product portfolio. The company made the deal to increase the value of all its customers, according to The Wall Street Journal (WSJ).
Under the terms of the acquisition deal, Realise will become a St Ives subsidiary. In addition, its incumbent management group will still be running the company from its London and Edinburgh offices, WSJ reported.
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