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3Q Digital has announced a definitive agreement to merge with DEPT®, creating a global powerhouse in digital marketing. The combined agency will consist of 3,000 specialists and manage over $3 billion in digital media spending across 180+ markets. This merger aims to enhance client experiences through integrated services and innovative technology. The transaction, subject to regulatory approval, is expected to close in Q2 2022. Post-merger, 3Q Digital will be rebranded as 3Q/DEPT™, providing a unified tech stack for clients.
Positive
Creation of a combined agency with 3,000 specialists enhancing service capabilities.
Management of over $3 billion in digital media spending indicates strong market presence.
Integration of proprietary solutions into a global tech stack will improve service delivery.
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None.
Two of the fastest growing agencies in the industry combine to build a global powerhouse across experience, tech, creative and media
CHICAGO--(BUSINESS WIRE)--
3Q Digital, the disruptive growth marketing agency for brands like Pandora, Skechers, Titleist, and Uniqlo, has entered into a definitive agreement to combine with global digital agency DEPT®. 3Q Digital’s team of 500 US-based experts will join the agency to deliver best-in-class data and engineering, creative automation, and personalization at a global scale.
Together, DEPT® and 3Q Digital will have 3,000 specialists that will support 65+ languages and campaign experiences in 180+ markets and will manage more than $3 billion in digital media spending, positioning it as one of the leading independent agencies in the world. To provide clients with one global tech stack, 3Q Digital’s proprietary solutions, including Qontrol, will be integrated into the Ada by DEPT® proprietary martech platform after closing of the transaction.
Rob Murray, CEO at 3Q Digital, said: “DEPT® is building a fully-integrated delivery model with simple structures, speed, clarity, and personal contact. Joining forces will expand our ability to impact the entire customer journey with the support of DEPT®’s experience, commerce, technology and creative services. Their commitment as a climate neutral, Certified B Corporation, support for a hybrid work model, and pioneering spirit will create a new type of agency that is truly big enough to cope and small enough to care.”
Upon closing of the transaction, 3Q Digital will be known as 3Q/DEPT™. With the proposed combination, 3Q Digital’s shareholders will receive shares in DEPT®. Penny Pritzker, chairman of PSP Partners and former U.S. Secretary of Commerce said: “It’s a time of high-growth for the digital industry, as it has been since we acquired 3Q Digital. These two powerhouses, each led by world-class teams, have all the ingredients for a long-term, winning strategy as a combined business.” Pritzker will join the DEPT® supervisory board at the closing of the transaction. PSP Partners, along with Erie Street, first invested in 3Q Digital in 2019.
Founded in Amsterdam in 2015, DEPT® has grown to more than 2,500 people across five continents, working with brands including Google, Philips, eBay, Patagonia, ASOS, Diageo and more. Its long-term growth strategy has been backed by global investment firm Carlyle (NASDAQ: CG) since 2020. In addition to 3Q Digital, six other agencies have joined the company over the past year. Earlier this month, DEPT® announced the rebranding of its US agencies and welcomed former Dentsu Aegis Network CEO, Jerry Buhlmann, as Non-Executive Chairman. With over $500 million in expected 2022 net sales, DEPT® has established a significant operational footprint in Europe, North America, and South America, and is rapidly expanding its APAC presence.
“3Q Digital has become one of the fastest-growing agencies in the world by delivering ROI and transparency,” said Dimi Albers, CEO at DEPT®. “Together we will be able to deliver speed and scale for our clients, powered by the best talent, data and tech stack. For us, this will mark a big step forward in the US as it will double our size and ability to combine marketing and tech in integrated teams for clients, which has been the secret to our industry-leading growth in Europe.”
The proposed transaction is expected to close in the second quarter of 2022 and is subject to the satisfaction of customary closing conditions (including antitrust regulatory clearance). Global investment bank, Canacord Genuity, advised 3Q Digital on the transaction.
About DEPT®: DEPT® is a pioneering technology and marketing services company that creates end-to-end digital experiences for brands such as Google, Diageo, Philips, Audi, Twitch, Patagonia, eBay and more. Its team of 2,500+ digital specialists across 30+ locations on 5 continents delivers pioneering work on a global scale with a boutique culture. DEPT® is committed to making a positive impact on the planet and since 2021 has been Climate Neutral and B Corporation certified. www.deptagency.com
About 3Q Digital: 3Q Digital is one of the world’s largest independent digital growth marketing agencies. Verified by TechCrunch as an Expert Growth Marketing Agency, it has built an impressive portfolio of clients in a range of verticals through paid media, business strategy, decision sciences, creative, SEO, and content. 3Q Digital has ranked in both Ad Age’s and Inc.com’s Best Places to Work lists in 2020 and 2021, and was also recognized on Adweek’s Fastest Growing Agencies list in 2019. www.3qdigital.com
