Photo by Connor Coyne on Unsplash.
M+C Saatchi has acquired sports agency Dune 23 Sport & Entertainment Sports Events Marketing.
The global advertising group said the agency in Dubai and Abu Dhabi is a strategic bolt on acquisition, integrating into the fast-growing UAE business and enhancing the sport and entertainment offering.
Dune 23 has more than 40 experts and a client roster including Emirates Dubai 7s, Mubadala Abu Dhabi Open, Chicago Bulls, LIWA Festival, Zayed Sports City, All Things Live, Dubai Watch Week, Longines Global Champions Tour, Nada Dairy, BRED by Hypebeast and SailGP.
"I am pleased to announce the agreement to acquire Dune 23 which is a perfect fit for our growth ambitions in the UAE, and for M+C Saatchi Sport & Entertainment,” said CEO Zaid Al-Qassab.
“I look forward to integrating Dune 23 into our Passions & PR specialism, where it will enhance our proposition of helping brands to grow through the leveraging cultural power of sport to connect with consumers.
"This acquisition represents a further step in our growth ambitions, developing and expanding our regional presence in a fast-growing market.
“By integrating the Dune 23 capabilities and client relationships into our regional-first operating model, we are scaling our ability to lead in one of the world's most dynamic markets for sport and entertainment."
M+C Saatchi's further expansion into the Middle East is driven by increasing demand from clients and growth opportunities, in a region that is becoming one of the world's leading hubs for sport and entertainment.
The bolt-on acquisition is in line with M+C Saatchi's growth strategy and capital allocation policy and will be funded by available cash on the balance sheet.
M+C Saatchi's earlier this month posted a trading update, showing like-for-like net revenue broadly “broadly in line” with last year. This implies a flat quarter compared to the same three months last year.
The company posted a 3.7% increase to £231 million in like-for-like net revenue for 2024 but the advertising side slipped into negative.
The global advertising group has been restructuring and cutting costs. The company said the planned delivery of £3 million of annualised cost savings is on track.
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