London-headquartered independent hotshop Leagas Delaney has been acquired for $85.5 million by Envoy Communications Group of Toronto.
Envoy says the buy is in line with its strategy to create ‘best of breed’ companies in each of its three core activities: marketing, design and technology. Leagas - which also has units in San Francisco, Paris, Hamburg and Rome - boasts over $500 million in annual billings.
Coincident with the deal, Leagas’s San Francisco office announced the award of a new $40m-$50m account - ReplayTV of Palo Alto, California, a manufacturer of personal digital video recorders. The business was also contested by GMO/Hill, Holliday and J Walter Thompson USA.
News source: Advertising Age - Daily Deadline