NEW
YORK and RIYADH, Saudi
Arabia, Aug. 6, 2024 /PRNewswire/ -- Stagwell
(NASDAQ: STGW), the challenger network built to transform
marketing, today announced it has entered into an agreement to
acquire Consulum, a leading pan-MENA government advisory
consultancy.
The acquisition — Stagwell's second in MENA in 2024 —
establishes a robust foothold for Stagwell in the Middle East, enriched by Consulum's tested
expertise in strategic communications, public policy, leadership
support, and diplomatic outcomes.
Founded in 2012, Consulum has grown to a team of approximately
160 professionals specializing in strategic communications, public
policy, and leadership support, with offices in Riyadh, Manama, Dubai, London, Cape
Town, and Kuala Lumpur. The
consultancy is a trusted partner to a range of high-profile
government clients.
"Our acquisition of Consulum marks a significant step in
expanding Stagwell's influence and capabilities in MENA as the
region's strategic importance to global marketers continues to
grow," said Mark Penn, Chairman and
CEO of Stagwell. "With Consulum's expertise and established
government relationships, we are poised to offer unparalleled
strategic communications services to our clients worldwide while
bolstering our unique capabilities in advocacy beyond the U.S."
Consulum Chairman and co-founder, Tim
Ryan said: "Consulum was formed 12 years ago to answer a
clear need for governments, heads of state and their institutions
to have access to a dedicated consultancy focused on strategy,
communications and policy. As a result of that singular focus and
mission, Consulum is now a market leader and something I and
co-founder Matthew Gunther-Bushell
are rightly proud of. "
Consulum CEO, Ryan Coetzee, and
Consulum Managing Partner, James
Davies said: "We are delighted to be joining the
Stagwell Group's impressive network. It marks a pivotal moment as
we move to our next phase of growth.
The combination of Consulum's leading government advisory
services with Stagwell's renowned innovation and cutting-edge
technologies will significantly enhance our ability to offer
clients a wider range of world-class services."
The addition of Consulum enhances Stagwell's presence in the
Middle East, complementing the
recently-acquired influencer marketing agency and technology
platform LEADERS/Influencer Marketing.AI, as well as Stagwell's
omnichannel media agency Assembly Global, global communications
agency Allison, and creative collective Forsman &
Bodenfors.
Consulum joins Stagwell as the challenger network seeks
expansion into 10 new markets in 2024 alone, and follows the
acquisitions of LEADERS (MENA), BERA (Global), Business Traveler
(Global), Luxine Publique Relations (Canada), What's Next Partners (France), Sidekick (U.K.), and Team Epiphany
(U.S.).
About Stagwell
Stagwell (NASDAQ: STGW) is the challenger network built
to transform marketing. We deliver scaled creative performance for
the world's most ambitious brands, connecting culture-moving
creativity with leading-edge technology to harmonize the art and
science of marketing. Led by entrepreneurs, our 13,000+ specialists
in 34+ countries are unified under a single purpose: to drive
effectiveness and improve business results for their clients.
www.stagwellglobal.com.
About Consulum
Consulum is a government advisory firm dedicated to helping
governments develop, lead and deliver positive programmes that
successfully promote their global interests. With decades at the
highest levels of government, Consulum's 160 specialists have the
experience and expertise to help governments enhance their standing
on the world stage and achieve their global objectives. The
integration of strategy, policy and communications – in both the
design and execution of programmes – sits at the heart of our
philosophy, because silos dilute impact while integration maximises
it.
CONTACTS:
Stagwell
For Press:
Kara Gelber
pr@stagwellglobal.com
For Investors:
Ben Allanson
ir@stagwellglobal.com
Consulum
Ryan Coetzee
rc@consulum.com
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SOURCE Stagwell Inc.