DALLAS: Cohn & Wolfe last week became the latest multinational to
stake a claim in Texas by purchasing hi-tech shop Springbok
The agencies did not disclose the terms of the deal, which C&W CEO
Stephen Aeillo said had been under negotiation for about 11 months.
Springbok founder Glenn Abel will become president of the new entity,
Springbok/Cohn & Wolfe, and will join C&W's senior management
"We see Springbok leading the technology practice," Aeillo said, noting
no organizational changes will take place in the immediate future. Prior
to the acquisition, C&W employed about 15 hi-tech staffers, mostly in
The move follows staff cuts at both agencies. C&W laid off 30 employees
nationwide in April and closed its 11-person Chicago office this
Springbok has reduced staff by 25% to 30% this year, leaving 48 people
in Richardson, TX, and 13 in Austin.
"No company in the marketing communications area has been immune from
the economic downturn," said Aeillo, asserting his belief that
technology will once again become a growing PR segment.
Springbok's attraction included a strong growth record in previous years
with nearly dollars 10 million in 2000 revenues.
However, problems at the agency have been widely rumored in Texas PR
circles. One competitor praised Springbok's ability to identify hot
young technology companies, but noted its high client and staff turnover