NEW YORK and LONDON: Cohn & Wolfe has acquired a majority stake in the European tech firm AxiCom, the first of what could be a string of strategic acquisitions C&W is planning. The announcement was made April 8.
AxiCom has offices in seven European nations. Its clients include Brightcove and Dell.
This acquisition expands on C&W's existing network, which spans across North America, Europe, and Asia-Pacific, adding tech expertise.
The firm will be known as AxiCom Cohn & Wolfe until the five-year earnout period is over. It will eventually be fully integrated into C&W.
"The expertise that AxiCom offers is the kind that we need to go after global technology business," said Donna Imperato, CEO of C&W.
C&W might follow the AxiCom acquisition with more buyouts, she added, as it seeks to continue the growth it has experienced over the past few years.
The agency has already made offers in China and is exploring options in India. Meanwhile, it is looking to beef up its public affairs offering in the US.
"We're looking at strategic acquisitions to fill in geographic or expertise holes," said Imperato. "It's part of a plan to become a top-ten agency."