NEW YORK: DKC and investor relations firm JCIR have formalized a joint venture to bring integrated PR, marketing, and investor relations services to their respective clients.
The two agencies have had a longstanding relationship, collaborating for the past 13 years for clients such as Marvel Entertainment and gaming company WMS Industries.
The partnership will enhance the structure, skills, and idea sharing that already exists between the two companies, they said in a statement. DKC and JCIR will also pitch the new capabilities gained through the now-formalized partnership to existing and prospective clients.
Both firms will continue to operate independently, with DKC MD Jeffrey Klein and senior MD Richard Land of JCIR jointly overseeing the deal.
The move is also a part of DKC's expansion plans. In February 2012, it opened offices in Washington DC, Los Angeles, and Chicago. Last November, it also launched a production arm called DKC Incite.
Sean Cassidy, president of DKC, said the joint venture was a “logical extension” for the agency, because it is doing more b-to-b work.
“If you look at what is going on in the PR space, clients are more interested in working with firms that provide 360-degree solutions, and we wanted one seamless offering,” he said. “[JCIR's] approach to business and culture is very similar to ours.”
Cassidy added that “in our business, the competitive set is no longer just PR agencies. We are competing against advertising agencies and digital agencies, so providing more service options makes sense.”
In 2012, DKC, which already had offices in New York City and Albany, NY, reported revenue of $32.9 million, up 20% compared with the prior year.
The firm also named Lisa Summers, former VP of communications at OWN: The Oprah Winfrey Network, to serve as VP last month. Jeffrey Lerner, former political director at the Democratic National Committee, rejoined the agency as EVP in June.
Representatives from JCIR could not be immediately reached for comment.
This story was updated on September 9 with quotes from Cassidy.