Steak Group, a digital agency with offices in New York, London, and Melbourne, has been acquired by Japanese marketing communications holding company Dentsu. The agency will be housed under Dentu's Network West division, doubling the size of its U.K. presence.
The agency's core competencies lie in search, social, display and email marketing services, which it provides for clients including Trump Hotels and Expedia in the U.S., Virgin Holidays and Swiftcover in the U.K., and Betfair and Best Western in Australia.
According to Steak it had already been exploring opportunities in Asia prior to the acquisition, but the Dentsu ties will likely accelerate those efforts. Dentsu Europe CEO Jim Kelly said the purchase was indicative of the holding company's growth strategy in digital services, after its acquisition of German-based digital creative shop Social Thinkers in January.
Following the buy, details of which were undisclosed, Oliver Bishop will remain in his role as Steak Group CEO, reporting into Kelly. The company's 94 staff will remain in their existing offices, with headquarters in London's Covent Garden, and the Steak brand will be retained.
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March 19, 2014