Grey purchases online specialist Media21

Grey Global Group has acquired Media21, the London-based online media planning and buying specialist, in a bid to strengthen its digital offering.

Grey Global Group has acquired Media21, the London-based online

media planning and buying specialist, in a bid to strengthen its digital

offering.



Media21 will be rebranded as Beyond Interactive, Grey’s new-media

operation, and will become the European headquarters for the

division.



The London founders and management team of Rick Sareen, Nick Suckley and

Peter Robins will remain and take on the task of expanding Beyond in

Europe.



Sareen, who takes on the title of chairman of the new company, said that

the increasingly pan-European nature of some of its clients made the

deal a necessity.



’In the summer we made a decision that if we were to grow and service

our clients, we had to form a partnership. Our clients were increasingly

pan-European and if we didn’t do this we would start to lose them,’ he

said.



Beyond has been looking for a UK partner for some time and is known to

have approached other independents, including i-Level.



Media21 was founded in January last year and now employs 20 staff. Its

clients include Bol.com, QXL.com and Virgin.net.



Ed Meyer, the chairman, president and chief executive officer of Grey

Global Group, said: ’This acquisition reinforces Grey’s commitment to

continuing to build its digital advertising presence. Our partnership

with Beyond reinforces and demonstrates the state-of-the-art interactive

resources that we can offer our clients.’



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