Chime buys Essentially for £18.23m 23/09/2009 |
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Chime Communications has agreed to buy sports marketing agency Essentially for about £18.23m.
The marketing services group, which owns Vallance Carruthers Coleman Priest, says the acquisition will help it diversify as well as “rapidly develop more opportunities for growth in what is becoming a major channel for marketing and communications.”
Lord Tim Bell led company adds the acquisition will boost its existing sports marketing business , which it claims has been a “considerable success” since the acquisition of Fast Track in 2007.
Lord Bell says: “The integration of Essentially will widen the spread of sports we cover, bring us some very talented people, allow for some synergies and rapidly develop more opportunities for growth in what is becoming a major channel for marketing and communications.”
Essentially has recently brokered sponsorship deals between the England and Wales and Cricket Board (ECB) and Unilever brand Sure Men and the ECB and Betfair.
Last month, Chime, which also owns PR business Bell Pottinger, posted a 4% increase in pre-tax profit to £8.5m for the first half of the year.
(Source: marketingweek.co.uk)
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