Stagwell (STGW) Furthers MENA Expansion with Agreement to Acquire Consulum, a Leading Pan-MENA Government Advisory Consultancy

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Aug 06, 2024, 06:03 ET

NEW YORK and RIYADH, Saudi Arabia, Aug. 6, 2024 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, today announced it has entered into an agreement to acquire Consulum, a leading pan-MENA government advisory consultancy.

The acquisition — Stagwell's second in MENA in 2024 — establishes a robust foothold for Stagwell in the Middle East, enriched by Consulum's tested expertise in strategic communications, public policy, leadership support, and diplomatic outcomes.

Founded in 2012, Consulum has grown to a team of approximately 160 professionals specializing in strategic communications, public policy, and leadership support, with offices in Riyadh, Manama, Dubai, London, Cape Town, and Kuala Lumpur. The consultancy is a trusted partner to a range of high-profile government clients.

"Our acquisition of Consulum marks a significant step in expanding Stagwell's influence and capabilities in MENA as the region's strategic importance to global marketers continues to grow," said Mark Penn, Chairman and CEO of Stagwell. "With Consulum's expertise and established government relationships, we are poised to offer unparalleled strategic communications services to our clients worldwide while bolstering our unique capabilities in advocacy beyond the U.S."

Consulum Chairman and co-founder, Tim Ryan said: "Consulum was formed 12 years ago to answer a clear need for governments, heads of state and their institutions to have access to a dedicated consultancy focused on strategy, communications and policy. As a result of that singular focus and mission, Consulum is now a market leader and something I and co-founder Matthew Gunther-Bushell are rightly proud of. "

Consulum CEO, Ryan Coetzee, and Consulum Managing Partner, James Davies said: "We are delighted to be joining the Stagwell Group's impressive network. It marks a pivotal moment as we move to our next phase of growth.

The combination of Consulum's leading government advisory services with Stagwell's renowned innovation and cutting-edge technologies will significantly enhance our ability to offer clients a wider range of world-class services."

The addition of Consulum enhances Stagwell's presence in the Middle East, complementing the recently-acquired influencer marketing agency and technology platform LEADERS/Influencer Marketing.AI, as well as Stagwell's omnichannel media agency Assembly Global, global communications agency Allison, and creative collective Forsman & Bodenfors.

Consulum joins Stagwell as the challenger network seeks expansion into 10 new markets in 2024 alone, and follows the acquisitions of LEADERS (MENA), BERA (Global), Business Traveler (Global), Luxine Publique Relations (Canada), What's Next Partners (France), Sidekick (U.K.), and Team Epiphany (U.S.).

About Stagwell

Stagwell (NASDAQ: STGW) is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. www.stagwellglobal.com.

About Consulum

Consulum is a government advisory firm dedicated to helping governments develop, lead and deliver positive programmes that successfully promote their global interests. With decades at the highest levels of government, Consulum's 160 specialists have the experience and expertise to help governments enhance their standing on the world stage and achieve their global objectives. The integration of strategy, policy and communications – in both the design and execution of programmes – sits at the heart of our philosophy, because silos dilute impact while integration maximises it.

CONTACTS:

Stagwell

For Press:
Kara Gelber
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For Investors:
Ben Allanson
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Consulum

Ryan Coetzee
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SOURCE Stagwell Inc.