PARIS: Brodeur Worldwide bolstered its already formidable overseas hi-tech practice last week by acquiring a 35% stake in French hi-tech agency Sophie Renard Relations Publiques (SRRP), a dollars 3.3 million firm with which Brodeur had previously affiliated.
PARIS: Brodeur Worldwide bolstered its already formidable overseas
hi-tech practice last week by acquiring a 35% stake in French hi-tech
agency Sophie Renard Relations Publiques (SRRP), a dollars 3.3 million
firm with which Brodeur had previously affiliated.
The 40-person agency, which grew 35% last year, will continue to be led
by president Sophie Renard and will be known as Brodeur SRRP. The deal
also gives Brodeur a stake in SRRP 1, an organization spun off last year
to work with start-ups located primarily in France.
This is the sixth European PR agency to enter into an equity agreement
with Brodeur since January 1997, the others being Brodeur Schoep & Van
der Toorn (Netherlands), Brodeur Image Time (Italy), Brodeur A Plus
(UK), Brodeur Comunicacion Empresarial (Spain) and Brodeur Kohtes &
According to Brodeur, France is a key player in what is expected to be a
dollars 30 billion Western European e-commerce market by 2001. Agency
president Andrea Carney declined to comment on the value of the deal, or
whether it was a cash or stock transaction.
Carney said that the acquisition rounds out Brodeur’s offerings in
continental Europe. ’Part of our strategy in Europe was to look at
established cornerstones in key markets,’ she said. She added that the
relationship between the two firms is unlikely to change significantly,
as Brodeur has treated SRRP as an equity partner since the two agencies
began working together.
Mike Copland, managing director of Brodeur Worldwide EMEA (Europe, the
Middle East and Africa), added that he believes Brodeur now has the
strongest technology-focused organization in Europe. ’For a company
coming through the Brodeur organization and looking to be serviced
throughout Europe, the starting points are the UK, Germany and France,’
he said. ’If we’re not strong in those three markets, there’s a gap in
our overall presence.’
SRRP, headquartered in Paris, works with such powerhouse brands as 3Com,
Lycos, MCI WorldCom, Minolta and Adobe. Over the course of their
affiliation, Brodeur and SRRP have shared clients such as IBM and
Carney said that Brodeur has wanted to take a stake in SRRP since the
two began working together, but that the timing only recently had become
’mutually beneficial’ for a formal deal.