The transaction has been approved by both companies’ boards of directors and is expected to close in early 2019. Under terms of the agreement, Quad/Graphics will purchase Periscope for $132.5 million.
“We are redefining the future of integrated marketing at a time of substantial disruption when clients are looking for less complexity, greater transparency and accountability from their business partners,” said Joel Quadracci, chairman, president & CEO of Quad/Graphics. “With Periscope, we will create a truly integrated, end-to-end marketing platform that we believe will create more value than the traditional siloed agency approach that exists today. Periscope will turbo-charge our existing offering with its world-class capabilities in strategy, including media buying and analytics, creative and account management.”
“Quad’s 3.0 strategy mirrors Periscope’s vision for an end-to-end solution, but on a much larger scale,” said Bill Simpson, chairman and owner of Periscope, which he established in 1994.
Added Elizabeth Ross, president & CEO of Periscope: “Quad allows us to accelerate the creation of the agency of the future by removing silos to help our clients seamlessly move from idea to execution. Brand owners have been very receptive to this approach because it provides fully integrated marketing solutions at the scale and speed they require.”
Ross, an advertising executive, will join Quad once the acquisition closes early next year.
Periscope is headquartered in Minneapolis, MN and also has offices in Chicago, Hong Kong and Delhi.