Stagwell

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Stagwell
Formerly
Nasdaq: STGW
IndustryAdvertising, marketing, communications, media
Founded2015
HeadquartersWashington, D.C.
Key people
Mark Penn, Founder & CEO
Websitewww.stagwellglobal.com

Stagwell, formerly The Stagwell Group, is a global marketing and communications group. Founded in 2015 by Mark Penn, Stagwell companies operate in four areas: digital transformation and marketing, research and insights, marketing communications, and content and media. It was founded in 2015 by Mark Penn.[1] In 2020, The Stagwell Group announced plans to merge with its affiliate MDC Partners.[2] The merger was completed in August 2021.[3][4]

History[]

Mark Penn founded The Stagwell Group in 2015. Penn founded The Stagwell Group with a $250 million investment from former Microsoft CEO Steve Ballmer.[5][6]

In 2017, Stagwell acquired Forward3D, Scout and also acquired Observatory from CAA.  The company also acquired pilot movie testing assets from Nielsen and combined them with NRG, and acquired mobile research assets from Nielsen to form HarrisX.[7][8]

In 2018, Stagwell acquired Ink and later ReputationDefender. Stagwell also secured a $260 million investment from AlpInvest Partners.[9]

In 2020, Stagwell acquired Seward Square Strategies as part of SKDK,[10] as well as Headliner Labs as part of ForwardPMK.[11]

In August 2021, following the merger of The Stagwell Group with MDC Partners, Stagwell formed Stagwell Media Network, a group of multichannel agencies.[12]

Merger with MDC Partners[]

MDC Partners was a publicly-traded advertising and media holding company based in New York. MDC Partners historically acquired majority stakes in partner agencies, and as of 2021 had more than 50 partner firms worldwide. In 2019, Stagwell invested $100 million into MDC Partners.  Stagwell CEO Mark Penn was then appointed CEO of MDC Partners.[13] On December 21, 2020, the firms announced their intent to merge. On August 23, 2021, Stagwell announced the completion of the merger and the creation of Stagwell Inc. (NASDAQ: STGW) as the merged entity. Mark Penn will continue as Chairman and CEO of the combined company. The merged company will be headquartered in New York, with significant offices in Washington, DC.[14]

References[]

  1. ^ SmileyJuly 24, Minda; 2020. "Marketing Is the Answer Whether You're Growing or Struggling". Retrieved 2021-07-15.CS1 maint: numeric names: authors list (link)
  2. ^ "Stagwell Group organic revenue spikes 59.9% in Q4". www.prweek.com. Retrieved 2021-07-15.
  3. ^ SmileyDecember 21, Minda; 2020. "MDC Partners and Stagwell Group Agree to Merge". Retrieved 2021-07-15.CS1 maint: numeric names: authors list (link)
  4. ^ https://digiday.com/marketing/stagwell-bets-on-organic-growth-to-power-its-merger-with-mdc-partners-as-it-retires-the-mdc-name/
  5. ^ O’Reilly, Lara (2018-08-14). "Mark Penn's Stagwell Group Raises $260 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-15.
  6. ^ Tadena, Nathalie (2016-05-12). "Mark Penn Is Out to Reinvent the Ad Holding Company". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-15.
  7. ^ Busch, Anita (2017-07-14). "Stagwell Group Acquires TV Pilot Testing Assets From Nielsen". Deadline. Retrieved 2021-07-15.
  8. ^ Bond, Paul (2015-11-16). "Nielsen's NRG Acquired by Stagwell Group". The Hollywood Reporter. Retrieved 2021-07-15.
  9. ^ O’Reilly, Lara (2018-08-14). "Mark Penn's Stagwell Group Raises $260 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-15.
  10. ^ "PR Sector M&A Activity Declines, But Independents Stay Busy". www.provokemedia.com. Retrieved 2021-07-15.
  11. ^ Coffee, Patrick. "Kenneth Cole and Cole Haan are betting on voice-enabled search options. Stagwell Group just snapped up a buzzy startup to try and cash in". Business Insider. Retrieved 2021-07-15.
  12. ^ O’BrienAugust 4, Kyle; 2021. "Newly Merged Stagwell Inc. Announces Q2 Earnings". Retrieved 2021-08-24.CS1 maint: numeric names: authors list (link)
  13. ^ Visconti, Ambrogio. "The Stagwell Group's $100 Million Investment In MDC Partners". Retrieved 2021-07-15.
  14. ^ Lepitak, Stephen; OsterMay 5, Erik; 2021. "MDC and Stagwell Group Release Q1 Results, Merger Moves". Retrieved 2021-07-15.CS1 maint: numeric names: authors list (link)
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