Stagwell (STGW) Prnewswire·2024-12-30 11:00Company Overview - Stagwell is a challenger holding company focused on transforming marketing by connecting creativity with technology to improve business results for clients [2] - Create Group is the Middle East's leading strategic digital communications group with 150+ team members across UAE, Saudi Arabia, and Egypt [6] - Code and Theory Network is a technology-first group within Stagwell with a unique balance of 50% creative and 50% engineers at scale [7][9] Acquisition Details - Stagwell announced the acquisition of Create Group, which will join its Code and Theory Network [8] - This is Stagwell's eleventh acquisition in 2024, following other strategic acquisitions globally [5] - The acquisition strengthens Stagwell's presence in MENA, complementing recent acquisitions of Consulum and LEADERS [9] Strategic Significance - Create Group brings 15 years of expertise in digital strategy, products, content, and innovation, serving high-profile clients like Abu Dhabi's Department of Culture & Tourism and Saudi Arabia's Public Investment Fund [4] - The integration into Code and Theory Network will expand Create Group's capabilities to deliver best-in-class results locally and globally [1][10] - Create Group's leadership team, including Tom Otton, will continue to lead the company within Stagwell's network [11] Industry Impact - Create Group has won Campaign's Middle East Digital Agency of the Year for three consecutive years (2022, 2023, 2024) and Adweek's Top 100 Fastest Growing Agencies in 2022 and 2023 [9] - The collaboration aims to drive global digital transformation for clients, leveraging shared digital-led visions and capabilities [3][8] - The combined network now boasts 2,000 team members worldwide, enhancing its ability to solve complex challenges in marketing and technology [11]