Listed international communications firm M&C Saatchi has acquired United Arab Emirates-based Dune 23, an award-winning sports agency.
The strategic bolt-on acquisition means that the London-headquartered firm will further its presence in the Middle East, bringing its headcount in the area to more than 160.
Dune 23 is an agency that boasts over 40 experts and a client roster including Emirates Dubai 7s, Mubadala Abu Dhabi Open, Chicago Bulls, LIWA Festival, Zayed Sports City and All Things Live, among others.
M&C Saatchi says Dune 23 brings specialist expertise, a proven track record and a team uniquely attuned to creating lasting impact through passion and fandom.
The London-based company’s further expansion into the Middle East is driven by increasing demand from clients and growth opportunities.
The bolt-on acquisition will be funded by available cash on its balance sheet and is expected to close in the coming weeks, subject to satisfaction of customary conditions.
“I am pleased to announce the agreement to acquire Dune 23 which is a perfect fit for our growth ambitions in the UAE, and for M&C Saatchi Sport & Entertainment,” said Zaid Al-Qassab, CEO of M&C Saatchi.
“I look forward to integrating Dune 23 into our Passions & PR specialism, where it will enhance our proposition of helping brands to grow through the leveraging cultural power of sport to connect with consumers.
“This acquisition represents a further step in our growth ambitions, developing and expanding our regional presence in a fast-growing market. By integrating the Dune 23 capabilities and client relationships into our regional-first operating model, we are scaling our ability to lead in one of the world’s most dynamic markets for sport and entertainment.”
Dune 23 co-founder, Jamie Hosie, added: “We’re incredibly proud of what we’ve built in such a short time, a homegrown agency shaped by ambition, driven by creativity, and grounded in a deep understanding of the region.
“Now, we carry that momentum into a global network built to scale bold ideas. Together, we’re ready to shape the next chapter of sport and entertainment in the region along with the people and purpose that have guided us from day one.”
M&C Saatchi has seen its share price dip in the last 12 months, falling from 204p a year ago to 170.4p as of today.
However, it has increased by 11.9p in the last month.
The business currently has a market cap of just over £200m.