Quad/Graphics to buy Periscope agency for $132.5m
Quad/Graphics has announced it will acquire Minneapolis-based agency Periscope as part of an ongoing transformation effort.
Periscope to be acquired by Quad/Graphics
The deal, which was publicized today (27 November), is expected to close in early 2019 and is worth $132.5m.
The acquisition aims to support the marketing solutions company's 'Quad 3.0 transformation' to improve efficiencies and marketing spend effectiveness.
The chairman, president and chief executive of Quad/Graphics, Joel Quadracci, said the company has been taking a disciplined approach to its transformation strategy, and acquiring Periscope is an important step.
"With Periscope, we will create a truly integrated, end-to-end marketing platform that we believe will create more value than the traditional siloed agency approach that exists today," he said. "Periscope will turbo-charge our existing offering with its world-class capabilities in strategy, including media buying and analytics, creative and account management."
He added that Periscope's packaging design and pre-media services will improve Quad/Graphics' printing capabilities.
According to the release, Periscope is a top five independent agency in the US by annual revenue. It employs more than 500 people in offices in Minneapolis, Chicago, Hong Kong and Delhi.
Elizabeth Ross, president and chief executive of Periscope, said she is looking forward to the partnership.
"Quad allows us to accelerate the creation of the agency of the future by removing silos to help our clients seamlessly move from idea to execution. Brand owners have been very receptive to this approach because it provides fully integrated marketing solutions at the scale and speed they require," Ross said.
Earlier this month, Periscope added two new executive creative directors: Heath Pochucha from Deutsch LA and Jason Bottenus from Fallon.