Stagwell has announced in a press release that it is teaming up with Serviceplan Group to serve clients internationally.
The collaboration will be focused on conception, planning and implementing media strategies for a more diverse group of global clients, the release said.
"This strategic alliance creates a solid alternative to the legacy-holding companies that until now have been a marketer's only option when they want global scale," Stagwell Chairman and CEO Mark Penn said in the release. "Collaborating with Serviceplan enhances our ability to deliver integrated customer experiences and targeted media strategies tailored to local markets in Europe and Asia-Pacific."
Both independent holdings plan to use their regional roots to expand the market in Asia-Pacific, Europe and North America, according to the release.
Stagwell and Serviceplan Group will oversee $10 billion in media, and between the two, will oversee services of global media, content, digital transformation and a mix of digital and traditional media capabilities, according to the release.
"Today, companies operate transcontinental, so we also have to set up the strategy, planning and buying of media across all borders," Mediaplus International CEO Matthias Brüll said in the press release. "With Stagwell, we have found our counterpart as an independent yet internationally active agency network on the other side of the Atlantic. Through the cooperation, we use the synergies from the cultural, geographical and service competencies of our organizations to build a strategic alliance for the benefit of our teams, our industry and our clients."