Analysis: Buyers remain cautious as agency M&A surges

Posted to the Holmes Report here

If the headlines are anything to go by, mergers and acquisitions have well and truly returned to the agency world. Recent months have brought a lengthening roll-call of firms that have jettisoned their independence in favour of selling out to a network, casting the 2009 recession as a brief pause in the relentless pace of wheeling and dealing.

Amid the torrent of new deals, though, is enough evidence to suggest a lingering sense of caution on the part of buyers. Several independent agency sources contacted by the Holmes Report expressed disappointment with the terms of typical offers, posing a particular quandary for highly-rated firms that have waited for conditions to approach those that characterised the M&A market prior to the recession.

Brands2Life declines to defend lucrative T-Mobile PR account

Posted to the Holmes Report here

Brands2Life has decided to end its decade-long relationship with T-Mobile rather than take part in the lucrative agency review for parent company Everything Everywhere – the mobile giant formed by the merger of T-Mobile and Orange last year.

The development means that the agency will walk away from an account worth as much as £1 million. The move has been triggered by Everything Everywhere’s decision to review all of its PR consultancy work across T-Mobile, Orange and the newly-formed holding group.

Cisco consolidates European PR with Octopus

This story is posted to the Holmes Report website here

Tech company Cisco Systems has consolidated its £600K European PR activity with UK firm Octopus Communications, following a pitch that displaces existing pan-European incumbent Brands2Life.

Octopus already handled Cisco’s UK and Ireland business. Earlier this year, the Holmes Report revealed that Cisco was aiming to appoint a single agency to handle this component, together with its pan-European assignment, and PR for its Webex and Tandberg brands.

Cisco aims for European PR consolidation

This story is also posted to the Holmes Report website here

Tech company Cisco Systems is on the hunt for a single agency to handle its six-figure PR business across the UK and Europe.

The company is reviewing PR for its UK activity, its pan-European work and for its Webex and Tandberg brands. Local market activity in continental Europe, however, is not included.