Incepta Group plc and Cunningham Communication, Inc. to Create Worldwide Technology Marketing Practice
July 26, 2000
Incepta Group plc, the London-based international marketing and communications group, today announced that it has expanded its global capabilities and technology market prowess with the acquisition of Cunningham Communication, Inc., a leading U.S. public relations and marketing firm recognized for its pre-eminent technology communications expertise. The total amount of consideration is for a maximum of $75 million and is subject to certain conditions being satisfied prior to closing.
The partnership will enable the two companies to create an influential new global force providing world-class marketing and communications services focused on the burgeoning technology marketplace. Under the terms of the agreement, Andrea (Andy) Cunningham, will lead this practice as chief executive officer reporting directly to David Wright, chief executive of Incepta Group plc. Operating as Citigate Cunningham, the agency will continue to offer the award-winning public relations, brand management, research, market development programs and consulting services that have made it a leader in its field. In addition, the new Cunningham entity is chartered with aggressive expansion into vertical and emerging technology markets throughout the world.;
The acquisition is a strategic move that also places Andy Cunningham and Joseph (Joe) Hamilton, Cunningham's president and chief operating officer, on the Citigate Inc. board of directors, which is responsible for all Group investment in North America.
Having a respected leader like Cunningham join our prestigious team is a major step in our expansion strategy in the U.S. and our technology communications leadership worldwide," said Wright. "We are extremely excited at the prospect of Andy, Joe, their management team and expert staff helping us to drive those efforts while continuing to provide the unparalleled communications programs and strategic counsel they are known for.
Cunningham Momentum Management(TM), a proprietary methodology that applies statistical research and diagnostic tools to build leading market and brand positions for technology and Internet-based clients, is one of the company's key market differentiators. Citigate Cunningham will continue to use this methodology to distinguish its service offerings and build out the new worldwide technology consulting practice.
“I am elated with this partnership and the opportunity it affords my team to move forward with our vision of creating a truly integrated and interactive worldwide marketing agency for technology-based clients," said Cunningham. "We were very selective and thorough in our search for financial options to support our growth plans. I'm confident that the Incepta Group is the right choice based on their synergistic business goals, global presence, and strong culture and value system.
Cunningham currently has more than 200 employees in seven offices in the U.S. and the United Kingdom. Current clients include Cisco Systems, Hewlett-Packard, Motorola, Pitney Bowes, Sprint and a variety of small to mid-size technology and Internet-based companies.