EDELMAN ACQUIRING LONG-TIME RUSSIAN AFFILIATE, IMAGELAND
Deal Combines World’s Leading Independent Pr Firm With Leading Independent Firm In Russia And Ukraine
January 28, 2008, Moscow, Russia -- Edelman, the world’s largest independent public relations firm, announced today that it is acquiring 70% of Imageland Russia and 50% of Imageland Ukraine, two of the largest PR firms in their respective markets and long-term Edelman affiliates. Terms of the deal, which is expected to close by May 1st, were not disclosed.
“We’ve always considered Russia high among our priorities and that’s why we’ve partnered with Veronica Moiseeva’s Imageland agency for the last ten years. Imageland provides us, and our clients with access to the services of the largest and most sophisticated, creative, and full-service communications firms in Russia, an important developing economy," comments Richard Edelman, President & CEO, Edelman.
"The Ukrainian economy is developing fast and so the opportunity to be the first global PR presence there is also very exciting. Our global clients have been looking for support from us in both these markets and we’re happy we can now provide that from an Edelman-owned office,” he added.
Veronica Moiseeva founded Imageland in 1991, and the business has grown to become Russia’s largest PR firm. With more than 80 professionals in Moscow and St. Petersburg and 20 in Kiev (where an office was opened in 2004), the firm earned more than $6M in revenue in 2007, supporting clients such as City of Moscow, DHL, Evrocement, Roche and several Russian federal departments. Imageland provides excellence across a number of communications services including health and consumer marketing and corporate reputation, and is a pioneer in digital services, which matches one of Edelman’s areas of excellence. The firm has been increasingly integrated with Edelman: participates in in-house training programs; has a number of employees working in Edelman offices; and currently supports several of Edelman’s global client relationships, including Abbott, AstraZeneca, Microsoft and Pfizer.
Veronica Moiseeva said: “Our decision to join with Edelman is all about extending our global reach, adding new services and practices for our clients and giving our people more opportunities for growth. At the same time we will help Edelman support leading Russian and Ukrainian companies around the world. It is an outstanding fit for us, both strategically and culturally and like Edelman, we have prized our independence very highly. We share the same vision, commitment to innovation, client service and quality as well as passion for results.”
“We have a strong relationship with Imageland and have worked with Veronica Moiseeva and her team for years. We’re a perfect fit. They are strategic, entrepreneurial and creative colleagues, qualities typified by their early adoption of digital communications techniques. They think like we think, and we’re excited that they’re formally joining our family,” said David Brain, Edelman’s European CEO.
David Brain will oversee the Imageland acquisition by Edelman. The combined business will be called Imageland Edelman.
The integration of Imageland will continue the expansion of Edelman’s global platform and follows on the heels of Edelman’s acquisition of some of the largest PR firms in China, Indonesia and Vancouver, Canada over the last 16 months.
About Edelman
Edelman is the world’s largest independent public relations firm, with 3,000 employees in 51 offices worldwide. Edelman was named in Advertising Age’s “2007 Agency A-List,” the first and only PR firm to receive this recognition. Richard Edelman, the firm’s President & CEO, was also named Agency Executive of the Year for 2007 by Advertising Age. In 2006, PRWeek awarded Edelman Large Agency of the Year and gave the firm its “Editor’s Choice” distinction. For more information visit www.edelman.com.
| Imageland | Edelman | |
| Revenue 2007 | US$6.2 million | US$415 million |
| % Rev. growth over 2006 | 25% | 23% |
| Founded | 1986 | 1952 |
| Management | Founder & President – Veronica V. Moiseeva | Founder and Chairman - Daniel J. Edelman President & CEO - Richard Edelman European CEO - David Brain |
| Staff | 100 | 3000 |
| Offices | Moscow, St. Petersburg & Kiev | Co-headquartered in the U.S. in New York and Chicago, with offices in other major U.S. cities -- 51 offices globally |
|
David Brain 20 7344 1203 7764863933 david.brain@edelman.com |