Home-grown Addiction Advertising has joined digital marketing and advertising agglomeration The Marketing Group, as part of its expansion strategy. The acquisition is a full one and the cost of it is SG$7.5 million
The agglomeration model allows the agency to retain its independence while providing liquidity and the opportunity to benefit from the advantages of being part of a global digital company. The agency's management will report to Jeremy Harbour, executive chairman, The Marketing Group.
According to Lionel Lim (pictured centre), managing director of Addiction Advertising, the partnership would provide scale and access to a suite of complementary marketing services. This will enable the agency to operate more cost efficiently and grow its business through partnership and collaboration.
The agglomeration model was also designed in response to the changing market climate with a single minded purpose, explained Lim. It aims to build a global marketing company that offers smart, profitable businesses access to new markets, new sectors and a network of senior marketing talent whilst retaining full control of their individual companies.
“It’s an exciting time for us as this partnership marks our next phase of growth. We remain committed to providing the best service to our clients and look forward to continuing our profitable growth as a listed entity,” Lim added.
“Lim and the whole team at Addiction will be helping us guide the growth and direction of The Marketing Group in Singapore and the region and their creative vision will be at the heart of what we do, it is always great to collaborate with world class companies,” Harbour said.
It will now begin trading on Nasdaq First North Stockholm under the ticker symbol TMG. It also joins a network of 19 businesses, with 32 offices in eight countries, serving clients across the USA, Europe, Asia, Australia and New Zealand.