Broad Street has ac-quired the staff and clients of Cosmic Blender, forming an enhanced-marketing operation that executives hope will have a greater impact on the marketplace than either agency could on its own.
Broad Street's Lee Rubenstein heads up the merged company as vp, general manager. Bill Churchill, founder and owner of Cosmic Blender, will hold the title of director and continue working on client business.
Terms were not disclosed, though sources said that Broad Street acquired Cosmic Blender in a cash-only deal.
The reconfigured agency em-ploys about 40 full-time and freelance personnel; its billings are estimated at $10 million. No employees from either company were laid off due to the merger, executives said. Broad Street is relocating from Cambridge, Mass., to Cosmic Blender's offices in Watertown, Mass.
"We intend to build a strong presence in the [Boston] market," said Rubenstein. "We want to raise the [bar] on service to clients and creative work."
Broad Street opened its local office in January. The company is a unit of Incepta Group, a London-based communications organization with 56 offices worldwide. Its U.S. headquarters are in New York. The shop specializes in planning and implementing corporate events. Most recently, the shop completed assignments for John Hancock and Terra Lycos.
Cosmic Blender is an 18-year-old digital media agency. The company primarily develops interactive marketing projects for clients such as Avid Technology, Converse, Del-oitte & Touche, Royal Caribbean Cruise Line, Starwood Hotels and Staples.
The new entity will offer a range of marketing, corporate events, video, branding, interactive, design and print collateral services.
"We're looking forward to being part of a company that represents the evolution of the marketing communications agency model," said Churchill.
Numerous small and midsize agencies have joined forces recently to remain competitive. A month ago, for example, Boston shops CGN Marketing & Creative Services and Connelly Partners fused to form Connelly Partners/CGN. Portland, Maine-based Via entered the Boston arena in June by absorbing the staff and accounts of boutique agency Six.