NEW YORK: Hill+Knowlton Strategies has acquired digital consultancy Group SJR.
Group SJR will maintain its brand and operate as an independent company owned by H+K. Alexander Jutkowitz will remain managing partner of Group SJR and will assume the additional roles of vice chairman and chief global strategist at H+K.
The deal will expand H+K's offering in digital and content creation, while giving Group SJR “global growth and breadth,” Jutkowitz said.
Group SJR will not lay off any employees as a result of the acquisition, Jutkowitz said. The firm has 50 staffers in New York and Los Angeles.
Founded in 2004, Group SJR specializes in content creation, audience development, and insights and analytics. The firm works with clients such as Dell, GE, the Motion Picture Association of America, TED, and Xerox. It reported $13.6 million in revenue for the year ending May 31.
“For us, it's a very exciting time to take this unique solution into a space that is rapidly maturing,” Jutkowitz said. “H+K also has a commitment to technology development and insights, as we do.”
Financial terms of the deal were not disclosed.
“With this acquisition, not only does it expand our capabilities in digital marketing and storytelling, but it also allows us to continue to grow our content creation and syndication abilities. We feel that's a great opportunity for growth at H+K,” said Andy Weitz, US president and CEO of the WPP Group agency. “It also strengthens our integrated marketing capacity.”
WPP reported more than $5 billion in digital revenue last year, representing 33% of total group revenue of $16.5 billion. The holding company wants to increase its digital revenue share to 35% to 40% in the next five years, it said in a statement.
Earlier this month, Dan Bartlett left his role as president and CEO of H+K US to become EVP of corporate affairs at Walmart. The WPP Group firm promoted Weitz to replace him.
This story was updated on June 25 with quotes from Andy Weitz, Hill+Knowlton Strategies' US president and CEO.