TORONTO: Vested has acquired Toronto-based financial PR firm Goldman Communications.
Vested cofounder and COO Ishviene Arora said discussions about the acquisition began six months ago and the deal was finalized at the start of this month. Goldman founder and CEO Corey Goldman will lead the firm that will be rebranded as Vested Canada.
Arora declined to disclose revenue before or after the acquisition or other financial details about the deal. She said there will be no layoffs or redundancies as a result of the acquisition.
“We obviously thought of Canada as an important market for us, and we definitely see this as the right opportunity and a great fit with [Goldman] and the team,” Arora said. “We see opportunities down the line to have shared clients, and our large clients see Toronto as an important market.”
Specifically, Arora said Vested was attracted to Goldman’s “industry connections and reputation in the asset industry.”
“[Goldman’s] experience and background and clients make them a really good fit for Vested,” she explained. “We focus on financial services and fintech, and from that aspect it is extremely complementary.”
“[It] was extraordinarily complementary,” said Goldman. “That’s what led the discussions from the very beginning. It was just a really good fit overall.”
The deal is the second of the year for Vested. Late last month, it took a majority stake in financial content firm Scribe. Last summer, it acquired a minority ownership stake in Caliber Corporate Advisers, a financial services marcomms shop, and also bought Talking Biz News.