The shop will continue to operate as a stand-alone agency within the Oliver Group. It will move into Oliver’s offices in Tabernacle Street, near Shoreditch.
Dare’s management team, including the chief executive Leigh Thomas, and the executive partner, Toby Horry, and creative partner, Brian Cooper, are expected to stay at the agency following the deal.
Mark Collier, the non-executive chairman of Dare, said: "This is a hugely exciting opportunity for Dare to be part of such a progressive and fast-growing marketing services group. The Oliver model is genuinely unique and it is proving to be increasingly attractive to clients, both in the UK and internationally.
"Dare will now be able to work alongside Oliver, with access to its global agency resources, whilst remaining an independent brand."
The Dare sale does not affect the brand strategy and design agency Identica, nor Elvis, the integrated agency.
Oliver has offices in London, Dublin, New York, San Francisco, Miami, Paris, Amsterdam, Hong Kong, Sydney, Frankfurt and Singapore.
Simon Martin, the chief executive of Oliver Group, said: "Dare is an innovator in the digital space, creating hugely engaging digital experiences.
"We are excited by the possibilities of bringing them into the Oliver Group and believe the synergies between the two companies innovative mindset’s will lead to an exciting future."
Paul Hammersley left his position as the chief executive of EDC UK, Dare’s parent group, in November last year. The EDC UK group had recently split with its Canadian parent Vision7.