Cossette buys Dare Digital
By Adnews Staff
Cossette Communication Group of Quebec City has acquired a 65.4% ownership stake in interactive agency Dare Digital, based in London, England. The CND$21 million acquisition is the first stage of a three-part deal over six years by which Cossette will purchase the firm. The price for the second and third stages of the purchase will be based on future company performance. Dare specializes in website development, online advertising, interactive content, email marketing and mobile marketing. It has a staff of 130 and had a gross income of approximately CND$20 million in its 2007 fiscal year. “Dare has a proven track record for creativity and effectiveness, and is recognized as a leader in its field,” said Claude Lessard, president and CEO of Cossette. “This is an important and strategic addition to our U.K. operations where we can now boast a strong and innovative digital offering. While Dare will spearhead our digital offering in the U.K., they will also have the opportunity to collaborate with companies from different marketing disciplines within the Cossette group.”