TORONTO: Stagwell has acquired multicultural marketing agency Dyversity Communications.
Based in Canada, Dyversity Communications specializes in Chinese and South Asian communications with additional expertise in more than 20 other languages, including Filipino, Korean, Portuguese and Spanish.
Dyversity joins Doner Partners Network, one of Stagwell's four networks that bridge marketing services for client work collaboration. Other agencies within DPN are DonerNorth, Veritas and Meat & Produce.
The acquisition greatly scales DPN's multicultural capabilities across Canada by centering multicultural insights and expertise in its client work and offerings.
In return, Dyversity now has Stagwell’s engineering and technology talent as well as original SaaS and DaaS products at its disposal.
Dyversity founder Albert Yue will continue leading the agency as CEO and plans to use the network's added support to bolster diversity in communications overall.
Once Dyversity is established within DPN Canada, Krista Webster, vice chair of DPN and president and CEO of Veritas Communications and M&P, plans to grow into the U.S. through Doner and the Stagwell global network, according to a statement from the company.
This year, Stagwell also acquired U.K.-based independent media agency Goodstuff Communications.
Stagwell grew 10.4% organically year-over-year in Q4 and 14.5% organically year-over-year in 2021, reaching $520 million and $1.93 billion in net revenue, respectively.