COSSETTE BUYS COLUMBIA, INCREASES STAKE IN PROXIMI-T
By Adnews Staff
Cossette Communications Group has purchased the public relations firm Columbia Communications. Columbia has offices in Montreal and Ottawa. Its clients include the McGill University Health Centre, Concordia University, McKesson Canada, Corby, the Department of Foreign Affairs and International Trade, Canadian Heritage and Veterans Affairs Canada. While the price is unknown, according to Cossette the amount consists of a closing cash payment and future payments based on financial performance over a four-year period. Columbia's gross income is $3.1 million. The Montreal branch of Columbia will be integrated into Cossette's Optimum Public Relations division in that city. In Ottawa the agency will be renamed Optimum Columbia Public Relations. In related news, Cossette has increased its stake in information technology firm Proximi-T to 90%. Cossette acquired a 40% interest in the firm in August 2000.