Tempus Group, the owner of CIA Medianetwork, has acquired Europe’s
largest marketing consultancy, Added Value, in a deal designed to create
a new-style communications group.
Added Value will work alongside CIA Medianetwork to offer clients an
integrated approach. Although the two companies will remain separate,
they will work together where appropriate.
Added Value gives strategic marketing advice to clients such as Unilever
and Shell (both CIA clients), Levi’s and Coca-Cola. Tempus paid pounds
9.1 million in cash and 6.5 million ordinary shares for the company in a
deal that values it at about pounds 35 million. Added Value’s
co-founders, Peter Dart and Mark Sherrington, have been appointed
executive directors of Tempus.
Chris Ingram, the chairman of Tempus, said: ’The other mega mergers
we’ve seen in our industry recently have not been focused on what’s best
for the client. This deal is about offering a better service for our
clients and giving us a real competitive advantage.’
Both Omnicom and WPP are reported to have been interested in acquiring
Added Value, but Dart said Tempus had provided the best business
fit.
’We believe that you need a group which can partner a client from the
brand’s architecture and positioning through to understanding the world
of media,’ he said.
Added Value has offices in Europe, South Africa, Australia and Hong
Kong, but Tempus will now look at a mergers and acquisitions strategy
for the brand to establish a US base and create a global proposition.
