COSSETTE COMMUNICATION GROUP ACQUIRES KOO CREATIVE AND STAKE IN PROXIMI-T
By Adnews Staff
Cossette Communications Group Inc. of Quebec City announced it will acquire Vancouver-based Koo Creative Group Inc. Koo Creative specializes in design and marketing to the Asian community in Canada. The firm operates three offices in Vancouver, Calgary and Toronto and has 40 employees. Cossette's Vancouver graphic design operation Grapheme will be combined with Koo's to form a new entity called Grapheme-Koo. Koo's staff will re-locate to Cossette's office in Vancouver's Yaletown district in the fall. The Asian marketing division will remain operating under the banner of Koo Creative. Koo's client roster includes: Canada Post, TD Waterhouse, Concord Pacific Developments and Petro Canada. Terms of the deal were not disclosed.
In other Cossette news, the group announced it will be acquiring a 40% stake in Proximi-T, an information technology consulting firm based in Montreal. The agreement, which is expected to close within 90 days, is subject to shareholder approval. Proximi-T has 100 employees and operates offices in Montreal and Toronto. Claude Lessard, Cossette's chairman and CEO said "Proximi-T's expertise in integrated business solutions using information technology and Cossette's in marketing communication and specifically in direct marketing and Web services, are complementary." He added Proximi-T and Cossette's Blitz and Cossette Interactive operations will work together, serving common clients, as well as those who want to develop e-commerce offerings. Financial details were not disclosed. Proximi-T was founded in 1984. Sales for the firm's last fiscal year were $7 million.