MediaLink – a business consultancy specializing in the media and tech sector – is to be purchased by Ascential plc, the UK-based B2B media company behind the Cannes Lions Festival of Creativity, and business information service WGSN.
Financial terms of the deal were not publicly disclosed, although it is still subject to US regulatory approval, and upon completion MediaLink (an outfit with over 120 employees spanning four offices in the US alone) will form part of Ascential’s Information Services division.
Michael Kassan, chairman and chief executive of MediaLink is poised to remain with the company post the closure of the deal, when he will leverage “Ascential’s assets and infrastructure over the coming months and years”.
A statement on the newly-acquired company’s website reads: “We do more than help our clients survive change; we provide insight and experience to help businesses drive vigorous and sustainable growth. Our team has the knowledge and expertise to help clients be successful because we have built, fixed, and run businesses; we have managed P+Ls, sales, marketing and product teams.”
The MediaLink brand was highly prominent at last year’s Cannes Lions Festival with the company playing host to high-powered networking events where senior marketers and agency staff rubbed shoulders with a string A-list celebrities including Coldplay front man Chris Martin.
MediaLink has worked with Cannes Lions’ customers since 2011, although post the closure of the deal they will be run independently. MediaLink will continue to build on its relationship with Cannes Lions and start new ones with other Ascential products where appropriate, according to a statement on the company’s website.
Aryeh Bourkoff’s LionTree Advisors acted as financial advisors to MediaLink with LionTree Partner Ben Braun serving as principal advisor.