Active International, Australia’s largest independent corporate trade and financial solution business, has announced the acquisition of Paykel, a leading independent media agency operating in Sydney and Melbourne.
The acquisition by Active International will see the agency join a global network of more than 500 staff operating across 14 countries.
Headquartered in the US, Active International was the first company to deliver corporate trading services in Australia, setting up its local operations in 1994.
On the acquisition, Active International group managing director Cameron Swan (feature image) said: “The acquisition of Paykel is an exciting next step towards building out our capabilities, product and services even further.
Whilst initially it will be business as usual for both organisations, which will continue operating as separate entities, we look forward to working with the Paykel team to continue our growth and development as a broad communications business in the years to come”.
Paykel founder and managing director Tony Paykel (feature image) said: “We’ll continue to deliver the same quality service that has seen us enjoy 20 years of success, but now with the added support of an independent network with global knowledge and resources.
“We have always sought opportunities to accelerate our innovation, and with the backing of Active International, we’re in an even stronger position to continue delivering on this vision”.
Mr Paykel will continue to lead his team as managing director, with Cameron Swan taking on the group leadership role of group managing director.