Marcoms group MSQ has completed the acquisition of London-based tech and marketing group Be Heard Partnership, in a deal worth an enterprise value of £20.6m.
The now completed deal, which sees it delisted from the London Stock Exchange this morning, creates a combined global workforce of 785 people.
MSQ said the move was designed to enhance its multi-disciplinary capabilities, particularly in tech and data analytics.
The combined group now blends the expertise of Be Heard’s agencies MMT Digital, Freemavens and Agenda21, which specialise in digital transformation, data and insight and digital media respectively, with MSQ’s branding and design agency Holmes & Marchant, PR and content agency Smarts, engagement experts Stack, B2B marketing agency Stein IAS, creative specialists The Gate, and digital agency twentysix.
The group’s client list includes leading brands such as Vodafone, Unilever, GSK, and Nestlé .
Pete Reid, CEO and Founder of MSQ, commented: “It’s an exciting time in MSQ’s development, not least transacting a deal and integrating two groups in the virtual, and often challenging environment, that we are currently operating in.
“We value LDC’s support, including that of our buy and build strategy, and we’re excited about the scale of opportunities already arising from the acquisition.”
John Clarke, Investment Director at private equity investment firm LDC in Manchester, which backed the acquisition, added: “This acquisition not only significantly enhances MSQ’s already impressive position, but expands its range of services to provide a truly integrated, multi-disciplinary offering for its clients.
“It marks a key step in a long-term growth strategy that will help attract the very best industry talent and cement MSQ’s market-leading position.”