Advertising agency M&C Saatchi has acquired brand consultancy Clear Ideas for £18.4m.
Launched in 2002, Clear Ideas employs 80 people with offices in London, New York and Amsterdam. The consultancy offers advice and training on brand strategy, product development, graphic and structural design and other creative services.
Last year, Clear reported revenues of £12.7m and operating profits of £3m. If Clear performs as expected, the acquisition will contribute revenues of £6m and operating profits of £1.3m in 2007.
The acquisition is part of M&C Saatchi’s aim to expand its service, with more than half its business coming from activities outside of traditional advertising creation.
The five founding directors – Melvin Jay, Alistair Moore, Jonathan Williams, Dr Steven Melford and James Osmond – will remain as directors of Clear. M&C Saatchi chief executive officer David Kershaw will join them at board level.