The Young & Rubicam Advertising family just got bigger, with the arrival of its most recent acquisition, technology marketing agency SicolaMartin.
SicolaMartin will keep its name and remain based in Austin, Texas. Execs from both companies called the purchase, which was formally announced last week, a "win-win."
"Y&R offers a global launch pad," said Pete Hayes, SicolaMartin's vp of business development. Hayes said his company has been looking to expand its reach. "This opens up the global market to us."
According Howard Breen, Y& R's director of mergers and acquisitions, North America, Y&R was looking to acquire a firm that could help the company wade deeper into the technology arena.
"We had just been hearing so much about SicolaMartin, so we called them up. They have a philosophy that is very similar to ours," said Breen.
SicolaMartin will function as a wholly owned subsidiary of Y&R Advertising, with access to the firm's global network. SicolaMartin's clients are primarily technology companies, including Novel, Compaq and Vignette.
The acquisition allows SicolaMartin to go about its business, and when "we need each other, we pick up the phone, and we're there to help each other," said CEO and president Tom Sicola. "We both do our own things, and as we need to, we can pull resources from each other."