Digital marketing firm Forward3D is merging with PMX Agency to create a new global brand, the company said today.
London-based Forward3D, whose clients include Asos, Virgin and Calvin Klein, will merge with US firm PMX to form ForwardPMX.
The combined agency will have a pool of 300 clients and boast $1bn (£778m) of managed media annually.
The new brand is owned by Stagwell Group, a holding group founded by Mark Penn, former adviser to Tony Blair and the Clintons.
“Marketing today needs to deal with accelerating rates of complexity, fragmentation and data, and yet consumers still want the same thing: an experience that fits with their lives,” said Martin McNulty, founder and chief executive of Forward3D.
“Making sense of this is the challenge. It’s about how you help brands capitalise on constant change.”
The firm said the move will combine Forward3D’s specialisation in high fashion, retail and travel with PMX’s US presence and expertise in non-profits.
ForwardPMX will have more than 700 employees working in 20 offices worldwide.
Stagwell Group, which secured $260m in funding last year, snapped up PMX Agency and Forward3D in 2016 and 2017 respectively. The merger is the latest sign of consolidation within the advertising sector.
Forward3D boss McNulty will take over as global chief executive of the new outfit, while PMX co-founder and chief executive will become global chief growth officer.
“This new venture greatly expands the types of clients that together these two companies serve as they scale up to be even faster, nimbler and more technologically sophisticated,” said Stagwell Group president Mark Penn.
“ForwardPMX has been built to meet the future needs of brands and deliver the value that clients demand.”
The merger is due to complete in March this year.