GroupM has announced it will merge the global operations of its agencies MEC and Maxus into a new billion dollar revenue, media, content and technology agency under the leadership of MEC’s CEO Tim Castree. The mergers will also include the Australian operations.
The company’s portfolio will now comprise three successful global media agency networks – Mindshare, MediaCom, and the new company – each with more than one billion dollars in annual revenues, plus an innovative digital-first agency, Essence.
GroupM also plans new investments across all of its agencies and its [m]PLATFORM data and technology capabilities.
Kelly Clark (above), Global CEO, GroupM, said of the merger: “We’re committed to improving our service to clients. These moves will give us greater focus, help us innovate, and improve our speed of delivery.”
Since Clark became global CEO in October 2016 , GroupM has made a number of organisational changes. Clark recently appointed Lindsay Pattison as GroupM’s Chief Transformation Officer to lead a range of transformation initiatives.
GroupM acquired Essence in November 2015.
The leadership team at Essence is excited about the opportunities this creates for our clients and our people,” said Christian Juhl , CEO, Essence. “Our mission is to make advertising more valuable to the world; with this infusion of talent, capabilities and markets, we can do this now on a bigger stage.”
Castree said of the merger: “Maxus and MEC share common values and ambitions. Both networks have a strong local market presence and entrepreneurial drive. Together, we believe we can create an exciting new media, content and technology agency which we look forward to introducing soon.
“We’ve clearly signalled our ambition to transform, and we mean business,” said Pattison. “This allows us to more meaningfully invest in each agency’s future – retaining and attracting the best talent with inspiring and rewarding workplaces, creating differentiated cultures and approaches, and sharing in a focus on helping clients win,” he said.
