- New media network Icon MediaLab has acquired London new media agency, IN.form, for an undisclosed sum.
The acquisition follows closely on the heels of the Interpublic Group's recent investment of a $20 million minority stake in the Swedish listed Icon MediaLab.
The purchase of IN.form in London swells Icon's ranks to more than 70 staff, making it one of the larger new media agencies in the UK.
IN.form, whose clients include American Express, BT, Lloyd's Bank, Sainsbury's and the Royal Sun Alliance, will be merged with its 15 staff into Icon MediaLab.
Stephen Hall, IN.form's managing director, will join Icon as chief creative officer, while Evan Michaels will remain in place as Icon's creative director, and Zena Meyer, client services director at IN.form, takes up the same role at Icon.
In addition to the acquisition, Icon has hired several senior staff. Joining from Noho Digital are its technical director, Chris Ester, and production director, Matt Elgood, who arrive at Icon in similar roles. Meanwhile, arriving from MTV is production development manager, Jo Noirit, who joins in a business consulting role.
According to David King, managing director of Icon MediaLab: "We have tried to be very careful about the way we have approached our merger and acquisition strategy, because the Icon culture and business process is a very strong one and compatibility is a very real issue for us.
He added: "This does not mean we have stopped. We will continue looking for acquisition opportunities. But they have to be right."
Following IPG's investment in Icon, the two have already started to work together in the UK. Initially Icon is working with Initiative Media, but it will also be working with Draft Worldwide and McCann-Erickson.
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