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| (L-R) John Wren, Philippe Krakowsky |
Omnicom is acquiring Interpublic in a stock transaction that creates a powerhouse that combined for $2.8B in 2023 PR revenues.
The collection of OMC’s PR units Marina Maher Communications, Portland, Mercury, Porter Novelli, Ketchum, and FleishmanHillard generated $1.6B in ’23 revenues. They posted $1.2B in nine-month 2014 revenues.
IPG’s Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global chalked up $1.2B in '23 revenues, and $887M during the first nine months of this year.
OMC and IPG say their “highly complementary assets create an unmatched portfolio of services and products that expand client opportunities for each company on day one.”
They expect to chalk up $750M in annual cost synergies within two years of close, which is expected for the first-half of next year.
OMC CEO John Wren (72) will continue at the helm.
IPG CEO Philippe Krakowsky (62) and OMC president Daryl Simm (63) will serve as co-presidents & COOs. Krakowsky will also co-chair the Integration Committee post-merger.
OMC shareholders will control 60.3 percent of the merged entity, while IPG stockholders will own a 39.4 percent stake.
The combined company posted $25.6B in 2023 revenues, and $19.2B revenues for the 2024 nine-month period.
Teneo and Joele Frank handle the joint statement from Nippon Steel and US Steel condemning president Joe Biden’s decision to torpedo their $15B merger. The merger partners accuse Biden (81) of sacrificing the future of American steelworkers to further his own political agenda.
RF|Binder has acquired Taft Communications, the Jersey firm noted for its purpose-driven PR programs.
Blue Matter, New York life sciences consulting firm, has acquired healthcare agency Sam Brown Inc, which has more than 50 staffers and $12.4M in 2023 fee income.
Acceleration Community of Companies has acquired a majority stake in New York-based DKC, the full-service communications shop launched by Dan Klores in 1991.
JPA Health has acquired London’s akt health communications, which has 23 staffers, to expand the European capabilities of the Washington-based firm.
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