Cape Town - International advertising agency network M&C Saatchi has acquired local digital agency Creative Spark.
Creative Spark is a the five-year-old digital agency founded by Matthew Buckland.
It has over 40 employees with offices in Cape Town and Johannesburg and annual revenues of approximately R20m, according to technology news website Memeburn.
The value of the deal has not been disclosed but Memeburn - which is also part of Creative Spark - reported that the company could be worth R50m.
Meanwhile, UK headquartered M&C Saatchi was founded in 1995 and today describes itself as the “biggest independent creative agency network in the World.
“Creative Spark will remain an independent stand-alone business, also servicing specific clients within the M&C Saatchi Abel JHB agency,” said Mike Abel who heads the M&C Saatchi Group in Africa.
Matthew Buckland, managing director of Creative Spark said, “We are immensely proud to become part of the M&C Saatchi Group - the fastest growing independent agency network in the world and one that inspires immense respect”.
“We share a pan-African vision with M&C Saatchi of creating a large, world-class digital agency and a strong digital publishing platform in Burn Media like no other,” said Buckland.