Chime acquired Rare in 2000 when it was known as Brass Tacks, with owner Kim Conchie staying on as managing director. Rare's client list includes Somerfield, Kwik Save and, on digital-only work, The Air Miles Travel Company.
PSP is also a customer publishing firm with clients including the AA, Kia Motors and the British Heart Foundation. It is led by Graham Lake, former managing director of TPD, and Peter Moore, who founded it in 2002.
According to Chime finance director Mark Smith, the rationale for the sale was that the group decided publishing was too far removed from its core activity. Smith admitted that Rare "had not performed very well" last year and that Chime may sell the remaining 24% stake to PSP in the long term.
Conchie is believed to be staying on at Rare following the sale. Neither he nor PSP were available for comment.
Rare's 2004 turnover was £2.57m while PSP's in the same year was £1.32m.
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