Stagwell Inc. acquired the remaining 49% stake in Instrument Marketing, Inc. from Instrument Leadership LLC for approximately $160 million.
January 05, 2022
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Stagwell Inc. (NasdaqGS:STGW) agreed to acquire the remaining 49% stake in Instrument Marketing, Inc. from Instrument Leadership LLC for approximately $160 million on December 30, 2021. The purchase price is comprised of $86,078,627 in cash and $73,921,373 in Class A common stock of the Company (Stagwell Stock) and payable in three installments. At closing of the transaction on December 31, 2021, the Stagwell paid the first installment of $75 million, comprised of $37.5 million in cash and $37.5 million, or 4,475,653 shares, in Stagwell Stock. The second and third installments of $42.5 million, each comprised of $24,289,313.50 in cash and $18,210,686.50 in Stagwell Stock, are payable on April 3, 2023 and April 1, 2024, respectively. Under the terms of the Agreement, the aggregate number of shares of Stagwell Stock issued in the transaction may not exceed 10% of the Company's outstanding Class A common stock. Stagwell Inc. will receive no cash proceeds and no commissions will be paid to any person in connection with the issuance.
Stagwell Inc. (NasdaqGS:STGW) completed the acquisition of the remaining 49% stake in Instrument Marketing, Inc. from Instrument Leadership LLC on January 6, 2022.
Stagwell Inc. is a digital-first global marketing network. Its primary capabilities include digital transformation, performance media and data, consumer insights and strategy, and creativity and communications. Its Integrated Agencies Network segment consists of the Anomaly Alliance, Constellation, the Doner Partner Network, Code and Theory, and National Research Group. Its Brand Performance Network segment includes a unified media and data management structure with omnichannel media placement, creative media consulting, influencer, and business-to-business marketing capabilities. Its Communications Network segment includes a network that provides advocacy, strategic corporate communications, investor relations, public relations, online fundraising and other services to both corporations and political and advocacy organizations. It also specializes in offering cultural relevance, experiential, digital storytelling, branded content, multi-cultural marketing, and influencer integration.