Cordiant Communications has bought international communications group Lighthouse Global Network for $592 million in equity and debt. Lighthouse owns a number of design, branding and communications companies including UK-based financial PR specialists Financial Dynamics and Fitch, the design consultancy.
Cordiant may soon become a takeover target itself and is already believed to have held tentative talks with Interpublic and True North. Some analysts thought that the acquisiton of Lighthouse would deter potential predators, but Cordiant CEO Michael Bungey argues that the deal makes the enlarged group more attractive to potential bidders.
The deal comes hard on the heels of Cordiant’s purchase earlier this week of US marketing communications agency Donino, White & Partners.
The Times, New York Times, Financial Times, Advertising Age - Daily Deadline