Stretch the Horizon has ended months of speculation over its future
by joining the marketing services group, Mosaic, in a deal which values
the agency at pounds 17 million.
The move will not greatly affect the day-to-day running of the agency,
but is intended to bring in referred business and a stronger
international resource. Its joint managing directors, Steven Penny and
Mark Sheard, will join the Mosaic Group Marketing Services board.
The Mosaic Group has operations in the US, Europe and Canada, and covers
areas such as direct marketing, merchandising, field marketing, database
development and management and contract sales. Last month, it launched
Mosaic Group Marketing Services, a European collective of agencies which
includes the sales promotion outfit, ZGC, and its direct marketing
sister shop, Dialogue ZGC.
STH has been talking to a number of advertising agencies and marketing
services groups over the past few months. Penny said: ’We were presented
with an unique opportunity to join Mosaic Group, which has the
attractive ethos of creating business partnerships with its group
Mike Preston, the chairman and chief executive of Mosaic Group, said:
’STH has a track record of exceptional revenue and earnings growth,
attributable to its experienced and ambitious management. I am excited
at the prospect of introducing our existing UK clients to the agency’s
direct marketing expertise.’