Industry News In Brief (November 6, 2023)
Date
11/6/2023 12:13:06 AM
(MENAFN- PRovoke)
KANSAS CITY, MO - EagleTree Capital has acquired travel and tourism firm MMGY Global from previous partner Peninsula Capital Partners and other shareholders, including current and former employees and the original founders of the business.
MMGY Global's management team will remain in place, and CEO Katie Briscoe will continue to lead the company. Executive chairman and former CEO Clayton Reid will continue to serve on the board of directors. EagleTree is partnering on this transaction with investment Management Corporation of Ontario (IMCO), and several of EagleTree's fund investors will be co-investing alongside them, including Northwestern Mutual. Terms of the transaction were not disclosed.
NEW YORK - Stagwell's Q3 revenue dropped 7% to $618 million, and its year-to-date revenue decreased 5% to nearly $1.9 billion. In its earnings report, Stagwell said Q3 net revenue was $535 million, a decrease of 4% from Q3 2022; net revenue for the first nine months of this year was $1.5 billion, a decrease of 3% year-over-year. However, Q3 net revenue from international increased 25%, led by increases of 30% in EMEA, 18% in LatAm and 12% in APAC. Organic net revenue growth from international business was 15%.
SAN FRANCISCO - Tech firm Gravitate PR has launched a data-driven storytelling practice. To assist companies in launching their data programs, Gravitate will offer several options to establish and build a company's data program. These include a data-driven storytelling initiative that audits a company's existing data, provides recommendations on additional data development, and solidifies the right set of messages, narratives, content and approaches to maximize the information and insights; and an integrated marketing communications initiative that conducts all of the above, with additional content creation spanning report copy, as well as owned, earned, social and paid media content.
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