Global communications and public affairs firm LLYC has acquired 75% of Mexican data-driven creative firm Beso for $8.4 million, the companies said on Tuesday.
The final price is subject to Beso’s financial results from 2021 to 2024.
Beso’s founding partners, José Beker and Federico Isuani, will continue to hold a stake in the company. They will join LLYC’s digital business team, led by partner and chief strategy and innovation officer Adolfo Corujo, overseeing content development, data mining, augmented reality and artificial intelligence in the U.S. and South America.
LLYC has recently been growing its data analytics and marketing services offerings, acquiring digital marketing firm Apache and advertising agency China in 2021. The Besos acquisition, its third this year, triples LLYC’s size in Mexico, where it will generate 19 million euros of joint income and employ 250 people.
Beso and LLYC will offer 160 clients creative and media buying capabilities based on artificial intelligence tools. Clients include Merck, Coca-Cola, Toyota and Walmart. LLYC and Beso’s technology partners include Oracle, Google, Brandwatch, Metrix and Hubspot.
“This operation allows us to take a fundamental and qualitative leap to extend our Deep Digital Business,” said Adolfo Corujo, partner and chief strategy and innovation officer at LLYC.
The acquisition of Beso is part of LLYC’s plan to double its size in the next five years. Over the past five years, LLYC has bought creative and technology companies in markets including Spain, Mexico and Brazil. Previous acquisitions include Impossible Tellers, S/A Comunicaçao and EDF in 2015, Arenalia and Diplolicy in 2018 and Factor C in 2020.