LBi Acquires Social Media and Marketing Agency Mr Youth
Largest Independent Global Marketing and Technology Agency Taps Mr Youth to Strengthen Social Media, Experiential and Word of Mouth Marketing Offering
Amsterdam / New York - LBi International N.V. (NYSE Euronext: LBI), the largest independent global marketing and technology agency with operations in 16 countries, today announced that it has acquired leading social media and marketing agency Mr Youth in the US.
The acquisition perfectly fits LBi’s philosophy of blending marketing and technology services in-house. Mr Youth’s integration into LBi adds breadth and depth to the agency’s already significant social media offering, capabilities made more urgent through several significant client wins this year. Including a performance-contingent pay-out structure, the transaction is valued between $40-50 million and will immediately contribute positively to LBi’s earnings per share.
Founded in 2002 by Matt Britton, New York-based Mr Youth assists clients in driving engagement with the new generation of consumers and creating lasting brand advocacy through non-traditional channels including social media, experiential, and word of mouth marketing. The agency specializes in creating interactive brand experiences. It connects consumers through shared passions and interests, empowers them and encourages peer-to-peer recommendations with friends, families and others across the social graph.
Over the years, Mr Youth saw rapid expansion of its business and has consistently grown greater than 20 per cent year on year over the past three years, with 2011 annual sales expected to come in at approximately $25 million. The agency was recently ranked 7th among Fast Company’s “Most Innovative Companies in Advertising and Marketing” in the world.
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