Aegis Reveals Vivid Plan, Diversifies Into Event Marketing
Terms of the deal were not disclosed, but Aegis said Vivid, which was founded in 1997 and is headquartered in Smyrna, Ga., has gross assets of about $4 million.
The deal looks to be a move to expand Aegis' presence in the field of event marketing. Aegis already owns Velocity Sports & Entertainment.
Other media services shops have been expanding their event and experiential marketing practices. Last year, WPP's GroupM unit acquired IEG Inc., a leading publisher and manager of conferences specializing in event marketing.
News of the deal comes as Aegis suitor Vincent Bollore announced plans to initiate yet another attempt to gain a position on the Aegis board. Speaking on his national turf in Cannes, the French financier, who is chairman of Havas and controls nearly 30% of Aegis' shares, told reporters attending the International Advertising Festival that he would call for an "extraordinary general meeting" in September to continue his press to gain seats on the Aegis board - a move some see as a prelude to an outright takeover of Aegis. Bollore already has been rebuked by a majority of Aegis shareholders in four previous attempts.