Dentsu has bought international digital agency Steak Group, which has offices in London, New York and Melbourne, for an undisclosed sum.
The agency, whose clients include Virgin Holidays, AXA, Swiftcover, Debenhams and Comparethemarket.com, currently has 94 employees and is led by Oliver Bishop, co-founder and chief executive, and Duncan Parry, co-founder and head of paid search. Seb Bishop is non-executive chairman.
Steak was Interactive Media Awards Agency of the Year after only three years trading in 2008, and has since maintained top 15 status in Marketing and New Media Age league tables for digital search agencies in the UK.
Dentsu Europe chief executive Jim Kelly (pictured) said: “I have followed Steak’s progress since it started in 2005, and admire enormously what Ollie and his partners have achieved. Digital media is a cornerstone of Dentsu Network West’s growth strategy. This acquisition is a great step in offering class leading digital solutions to our clients in Europe.”
Bishop said: “Dentsu takes digital seriously and wants to be a leader in online marketing– and that’s exactly our ethos at Steak. It’s a perfect fit – we’ll continue to grow as Steak and as a major part of Dentsu in Europe. Everyone past and present at Steak Group’s companies in London, New York and Melbourne should be proud of what we’ve achieved in a short space of time – and look forward to an exciting future.”
The partnership enables Steak to both work with Dentsu’s European offices, and to offer to its clients Dentsu’s media expertise throughout Asia. Steak is currently exploring opportunities for its clients in South East Asia.
The acquisition also doubles Dentsu’s size in the UK (alongside Dentsu London and Dentsu Sports), and follows on Dentsu’s acquisition in January of the Düsseldorf based digital creative agency, Social Thinkers, further substantiating Dentsu’s commitment to digital growth and success in Europe.
Kelly will join the Steak board of directors, along with Tim Andree, chief executive of Dentsu Network West, and executive officer, Dentsu Inc. Bishop will remain non-executive chairman.
