Paritee Acquires Swedish Creative Technology Agency
Date
5/16/2024 5:14:32 AM
(MENAFN- PRovoke) STOCKHOLM - Paritee, the Scandinavian-based holding company that owns Brands2Life and Geelmuyden Kiese Group, has acquired Swedish agency DVA Creative technology Studio.
DVA was founded in 2017 to support brands in an increasingly competitive media landscape, with a focus on combining communications and new Technology including XR and AI to create digital work. The agency works with clients including Audi, McDonalds, the Royal Swedish Opera, Spotify and Volvo and has won multiple awards at shows including Cannes Lions and the Clios.
The four founders of DVA – Anna Adamsson, Bo Gustafsson, Jessica Thorelius and Johan Anstérus – remain in the business, which will continue to act as an independent unit within Paritee.
Jonas Palmqvist, CEO of Paritee and new chairman of the board of DVA, said:“By virtue of its market positioning and its capabilities in the space of everything digital, VR/AR/AI, gaming, experiential and real time VFX, DVA becomes an additional strategic cornerstone for Paritee as we seek to become an international home for truly innovative agencies and talents who want to make a difference.”
Paritee chief growth officer Leif Geiger added:“DVA is a unique agency, with its world-class talents and offering, so this really is an incredible acquisition. We deeply believe in creative tech as a differentiating and enriching communicative edge at a time when brands are struggling to reach out and cut through the noise.”
At DVA, chief executive Thorelius said:“After seven years in the market this is exactly the kind of next step DVA was looking for. With Paritee, we are ready to gear up, address more markets, and even bigger assignments. Teaming with an experienced partner with a clear focus on innovation and growth, this suits us perfectly.”
Founded in 2021 by chairman Lars Erik Grønntun, former global president of Hill & Knowlton, Paritee's mission is to create a new type of EMEA agency network and model for collaboration across marketing, comms and corporate advisory, with a focus on agencies that work with transforming and high-value industry verticals, such as technology, energy, healthcare, mobility and financial services.
In 2022, the company completed its first acquisition with Geelmuyden Kiese , one of Scandinavia's largest communications agencies with offices in Oslo, Copenhagen and Stockholm. In December 2023, Paritee acquired UK-based agency Brands2Life , which had net sales in 2023 of around £24m and has 200 employees in London and in the US.
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