Mark Penn's Stagwell Group is taking a majority stake in travel media and marketing company Ink. Terms of the deal were not disclosed.
“Travel numbers around the world are growing year-on-year, and they are very valuable and receptive consumers -- a perfect audience for any marketing plan today," says Penn.
Ink creates digital, video, print and experiential branded content for 21 travel companies including American Airlines, United Airways, Singapore Airlines, Etihad Airways, Norwegian, Qatar Airways, Virgin Atlantic Airways, easyJet and Amtrak.
The company will maintain operations under the Ink brand based in London and Michael Keating and Simon Leslie will remain as joint CEOs.
This shop falls under Penn's "Noah's Ark strategy" of adding "one or two of each kind of agency" to the Stagwell portfolio, as Penn told MediaPost in August.
Thus far, the Stagwell portfolio includes healthcare and consumer shop Scout, research leader Harris Insights & Analytics, performance marketing firm PMX Agency, creative digital leader Code and Theory, strategic communications agency SKDKnickerbocker, creative shop Wolfgang, entertainment research innovator National Research Group (NRG), and communications agency Wye Communications, among others.
To date, Stagwell Group has completed 18 investments and is on track to generate more than $400 million in consolidated net revenue this year.