Omnicom buys out remaining stock in digital marketing firm Critical Mass
Omnicom has agreed the complete buyout of the remaining shares that it does not already own within digital marketing agency Critical Mass.
The Drum has learned that the agency, headquartered in Calgary but with offices in Chicago, Costa Rica, Nashville, London, Los Angeles, Toronto and New York, saw a 50 per cent stake acquired by Omnicom in 1999 for around $20m, and is now entirely owned by Omnicom.
It is understood that an internal announcement of the acquisition of the remainder in the company has now been made by the advertising network, with an industry statement expected to be made next week confirming the buyout.
It is expected that long-time chief executive, Dianne Wilkins (pictured) and her team will be unaffected.
An Omnicom spokesperson tol The Drum: "Omnicom is pleased to increase our majority stake in Critical Mass.
"Critical Mass is a highly successful global digital marketing agency with a strong management team led by Dianne Wilkins, a digital veteran. They are an important asset to our portfolio of agencies and work with many of our top clients around the world."
Wilkins added: "Our mission at Critical Mass is to design meaningful experiences by relentlessly focusing on the customer improving their lives through convenience, simplicity, value, utility or entertainment. The team here is excited to now be a fully-owned member of the Omnicom family. We look forward to partnering more with our sister agencies to drive digital innovation and grow our capabilities across the globe."
In January, Omnicom merged Agency Republic with Critical Mass, while its failed merger with Publicis was still proceeding.
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In a complex and fast-moving world, Critical Mass designs unparalleled brand experiences that connect with people. We were established in Calgary back in 1996, and...
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