Cossette Communication’s $42 million Daring move
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“Go big or go home” is exactly what advertising agency Cossette Communication Group as the firm enters into a six year, three part deal to take a 65.4% stake in London–based Dare Digital. Dare was grown since early 2000 to a total gross income of aproximately $20 million in its 2007 fiscal, a staff of 130 and specializing in the areas of website development, online advertising, interactive content, e-mail marketing, digital outdoor, and mobile marketing. Founding partners of Dare Digital will stay on and join the Cossette Communications team.
“Dare has a proven track record for creativity and effectiveness, and is recognized as a leader in its field,” said Claude Lessard, Chairman of the Board, Chief Executive Officer and President, Cossette Communication Group. “This is an important and strategic addition to our U.K. operations where we can now boast a strong and innovative digital offering as part of our Convergent Communications(TM) services. While Dare will spearhead our digital offering in the U.K., they will also have the opportunity to collaborate with companies from different marketing disciplines within the Cossette group.”
The future of the industry is in digital, says Lessard. About 25% of Cossette’s activities in Canada are now digitally related and he expects the same ratio for the U.K. “We needed a key player in the field. I can say confidently that Dare fits the bill.â€
The comments by Lessad, seem to follow the current consolidation trend that is occurring in the industry with other recent acquisition including 24/7 by WPP and DoubleClick by Google. It will be interesting who has the largest portfolio of digital companies by the end of 2007. Will Google who’s been dominate in search become a dominate player in the ad serving industry?
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