STW has further cemented its investment in digital ventures by buying a majority share in Sydney agency Switched on Media.
Switched on Media specialises in search engine optimisation, pay-per-click advertising, digital content and social media. It was founded in 2007 by Scot Ennis and Andy Jamieson, with the pair slated to stay on with the business.
STW chief executive Mike Connaghan said: “[Switched on Media is a] solidly profitable and fast-growing business in a short period of time, backed by blue chip clients. The investment in Switched on Media adds deep and established capability in two of our key digital focus, search marketing and social media.
“We will see significant growth in both sectors as audiences continue to increase and clients respond accordingly. Switched on Media has a strong, deep and established capability to integrate search and social and generate online sales, which positions them particularly well to tap into this growth. Additional capabilities in mobile and content further demonstrates the agency's industry-leading position.”
Ennis said: “The clients results we generate have always attracted considerable attention by larger groups. Joining STW was particularly enticing. It's a proven market leader with a focus on growth not just within the market and this partnership will allow us to cement our brand as a leader in the field.”
Jamieson added: “Achieving success in digital is now business-critical. Companies need to understand and utilise channels such as Google and Facebook as starting point, and get a grasp on new channels as they continue to evolve.
“We're excited by the prospect of now working with STW in a partnership that will provide us with a chance to continue to grow, while providing solid recognition of the team's achievements to date.”
STW signalled last month during its financial results reporting that it will continue to invest in digital acquisitions. It said it would spend between $20 and $30 million on new investments, including digital, before the end of the year.
Connaghan said at the time that 30% of STW's revenues were now being generated through its digital operations.
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.
Have something to say? Send us your comments using the form below or contact the writer at email@example.com