IVE Group has shared details of a new acquisition completed in May with 40 staff members in Sydney and Melbourne that has already been successfully integrated into the business.
“We stated 12 months ago that we were implementing a strategy to diversify and expand our Creative and Content offering,” IVE CEO Matt Aitken said while delivering the results for the last financial year ending 30 June 2024.
“We felt it was important for IVE to upscale its Creative and Content business to capture additional market share from our customers as well as accessing new revenue streams, markets and customers.
“To accelerate that expansion, IVE acquired Elastic Group at the end of May, an independent creative agency that specialises in video content creation and visual communications. Elastic’s Sydney and Melbourne operations, including 40 staff, have been relocated and integrated into IVE’s existing sites in Sydney and Melbourne.
“Creative and Content has been a core part of our offering for over 20 years. As fragmentation of the media landscape and proliferation of marketing channels has significantly increased the type, volume and frequency of content required for effective omni-channel marketing.
“Our initial focus has been on talent and capability – expanding the breadth and depth of service offering across strategy, creative, content, production and technology. Elastic retains a very impressive portfolio of customers across automotive pharmaceutical, government, sports and entertainment, food and beverage, finance and property.
“IVE now consider ourselves to have an unrivalled in-house marketing agency capability, providing customers with a streamlined and simplified way of producing ideas and content for every marketing channel.”
Aitken said the acquisition was modest in terms of size and was not reported to the ASX, however it does represent a business that is now very strategically important.
IVE has published this video to promote the new acquisition and provide more information on the capabilities and expertise within the Elastic Group.
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