MMGY Global has acquired Vancouver-based travel and tourism strategic planning agency NEXTFactor Enterprises Inc.
Financial terms of the deal were not reported.
NEXTFactor provides strategic planning and marketing services for clients in the tourism and travel sector. It was founded in 2015 by Paul Ouimet, who also serves as CEO.
|From left to right: MMGY Global CEO Clayton Reid, MMGY NextFactor President Paul Ouimet, and MMGY Global COO Craig Compagnone.|
The agency’s name will change to MMGY NextFactor in light of the acquisition. Ouimet will remain at the firm as partner and MMGY NextFactor president. No other staff changes were reported.
NEXTFactor accounts for MMGY’s first Canada acquisition. While MMGY NextFactor’s Vancouver offices will remain for the time being, agency staff told O'Dwyer's that MMGY intends to open a new office this fall that will accommodate both the NextFactor team as well as other MMGY Global brands as the travel, hospitality and entertainment marketing agency continues to widen its foothold in the Canadian market.
“As a global company dedicated to a holistic approach in servicing the travel and hospitality industry, it is important for us to grow our capabilities as well as our geographic reach,” MMGY Global COO Craig Compagnone told O’Dwyer’s. “The team at MMGY NextFactor provide us with scale in both of these areas. Not only does this acquisition create a foundation in Canada for us with an office in Vancouver, but Paul and his team have developed a portfolio of strategic planning services and auditing products that are leading the industry and will enhance our research and marketing capabilities.”
NEXTFactor also accounts for MMGY Global’s seventh acquisition in the last three years, the latest in an aggressive acquisition spree borne out of a significant equity investment the firm received in 2016 from Peninsula Capital Partners.
Kansas City-based MMGY in April acquired London-based content, media and creative solutions agency Digital Spring, which followed acquisitions of London-based luxury travel, spa and property agency Grifco (as well as sister shop Ophir PR); McLean, VA-based travel and tourism market research firm D.K. Shifflet & Associates; London-based tourism and travel PR agency Hills Balfour; Los Angeles-based lifestyle and travel specialists Myriad Marketing; and New York travel and tourism agency NJFPR.
MMGY in 2016 said the agency’s strategy is to effectively double its operations by 2020.
MMGY Global was legally advised on the NEXTFactor deal by Foley & Lardner, LLP in the U.S. and by Dentons Canada LLP in Canada. NEXTFactor was advised in the transaction by Sager Legal Advisors LLP and Doug Jung, CPA.