Engine Shop, a sports, and entertainment marketing agency, has purchased sponsorship consultancy IEG and the IEG Sponsorship Conference, from WPP's GroupM for an undisclosed sum.
In acquiring IEG, Engine Shop plans to begin a complete reimagination of IEG’s content and event platforms and a new set of research and valuation services.
IEG, based in Chicago, will retain its headquarters and autonomy as affiliate of Engine Shop.
Its IEG Valuation and Measurement services will also continue to support global brands and rights holding organizations across all lifestyle verticals.
Founded in 1982, hundreds of the most influential marketing spenders and rights holders have used its analytics tools, forecasts, proprietary valuation and measurement services and Engine Shop said it will significantly invest in these areas.
WPP's GroupM had acquired the sports business, which had included its flagship programming, the annual IEG Sponsorship Conference. IEG had announced changes to the conference for 2019, including a format focusing on multiple verticals in sports, entertainment, music and the arts.
Sponsorship.com, IEG's editorial asset, had also recently announced a change to its content and distribution model, and will rebrand to IEGWorld at a 'later date'.
Engine Shop chief Brian Gordon said in a statement: “We are striving to build Engine Shop into the model, global engagement marketing agency. IEG’s proprietary services and events have made brands smarter for more than three decades.
"These are difference-making resources, and we are going to build on that with more tools, platforms and bold thinking to serve the industry at a time when the industry craves well-synthesized data to make the best, most effective decisions.”
The newly-acquired assets join Engine Shop’s e-sports, international football, Olympic and global sports marketing practices that parent company Bruin Sports Capital has bought in the space of nine months. This included The Gamer Agency in December, T Burns Sports Group in February, and SA Studios' global e-sports and soccer businesses in March — each now reportedly able to work in synergy with the 'treasure trove' of offerings' IEG has provided.