Global marketing communications group Cordiant, which owns HP:ICM,
has bought PCI LiveDesign. Prior to the acquisition, PCI had bought
PCI, whose clients include Toyota, McDonald's and BT, will link with
HP:ICM to form a new "face-to-face marketing network". It will be headed
by PCI chief executive Richard Bamford.
Both companies stressed they would not be merging and would remain
separate in the Cordiant group.
"We do not plan to merge with HP:ICM for the foreseeable future," said
PCI marketing director Felicity Kelly. "The acquisitions means we have a
secure platform for growth and a more international reach."
HP:ICM managing director Julian Pullan added: "A merger is not on the
cards and there is no reason for our clients to be concerned. The move
seriously boosts the face-to-face element of the group. It's now the
Manchester United of our industry with some of the top brains involved
with the group."
Cordiant's acquisition brings to three the number of face-to-face
agencies in its portfolio. The group also owns Chicago outfit Avid.
PCI bought Ultimate Events, which counts Microsoft as one of its
clients, for an undisclosed sum. "The move strengthens our portfolio of
brands and doubles turnover and number of staff."