We thought one other bidder is likely to be circling M&C Saatchi because it batted off Vin Murria’s takeover bid however didn’t count on it to be Subsequent 15, the £1.2bn tech based mostly company group that’s at the moment absorbing £81m Engine Inventive.
Subsequent 15 CEO Tim Dyson says the deal brings collectively “two extremely complementary companies. Bringing M&C Saatchi into Subsequent 15 group supplies us with a step change in our scale and world attain.”
It definitely supplies worldwide scale with M&C’s considerably rambling community – a lot of its businesses are solely minority owned – and makes Subsequent one of many larger gamers in UK adland. In addition to Engine it owns trend company ODD.
ODD CEO Phil Fearnley is at the moment within the technique of integrating Engine with ODD. It will likely be fascinating to see who will get the job of operating the entire shebang below group boss Dyson, Fearnley or M&C veteran Moray MacLennan.
The story may not be over but in fact. Different bidders could present their hand. The prospect of gobbling up M&C Saatchi have to be extremely tempting for S4Capital’s Sir Martin Sorrell, who lower his tooth on the previous Saatchi & Saatchi earlier than founding WPP.
M&C CEO MacLennan says: “This merger will probably be a strong accelerator for M&C Saatchi. Via connecting with Subsequent 15 capabilities and firms, our capacity to ship significant change for current and new purchasers will probably be deepened and broadened, turbo charging our subsequent part of development.”