Business
Stagwell (STGW) Furthers MENA Expansion with Agreement to Acquire Consulum, a Leading Pan-MENA Government Advisory Consultancy
NEW YORK and RIYADH, Saudi Arabia, Aug. 6, 2024 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, today announced
About this update from Stagwell Inc.
[{"type":"text","content":"NEW YORK and RIYADH, Saudi Arabia, Aug. 6, 2024 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, today announced it has entered into an agreement to acquire Consulum, a leading pan-MENA government advisory consultancy.\n\n \n \n \n \n \n \n\n \nThe acquisition — Stagwell's second in MENA in 2024 — establishes a robust foothold for Stagwell in the Middle East, enriched by Consulum's tested expertise in strategic communications, public policy, leadership support, and diplomatic outcomes.\nFounded in 2012, Consulum has grown to a team of approximately 160 professionals specializing in strategic communications, public policy, and leadership support, with offices in Riyadh, Manama, Dubai, London, Cape Town, and Kuala Lumpur. The consultancy is a trusted partner to a range of high-profile government clients.\n\"Our acquisition of Consulum marks a significant step in expanding Stagwell's influence and capabilities in MENA as the region's strategic importance to global marketers continues to grow,\" said Mark Penn, Chairman and CEO of Stagwell. \"With Consulum's expertise and established government relationships, we are poised to offer unparalleled strategic communications services to our clients worldwide while bolstering our unique capabilities in advocacy beyond the U.S.\"\nConsulum Chairman and co-founder, Tim Ryan said: \"Consulum was formed 12 years ago to answer a clear need for governments, heads of state and their institutions to have access to a dedicated consultancy focused on strategy, communications and policy. As a result of that singular focus and mission, Consulum is now a market leader and something I and co-founder Matthew Gunther-Bushell are rightly proud of. \"\nConsulum CEO, Ryan Coetzee, and Consulum Managing Partner, James Davies said: \"We are delighted to be joining the Stagwell Group's impressive network. It marks a pivotal moment as we move to our next phase of growth.\nThe combination of Consulum's leading government advisory services with Stagwell's renowned innovation and cutting-edge technologies will significantly enhance our ability to offer clients a wider range of world-class services.\"\nThe addition of Consulum enhances Stagwell's presence in the Middle East, complementing the recently-acquired influencer marketing agency and technology platform LEADERS/In...