The digital agency s360, which specializes in search under the Egmont group of companies, has acquired OnlinePartners, a competitor in search marketing.
The deal aims to allow s360 to take a market lead in Denmark, with estimated revenue of more than $15.2 million (100 million DKK) in 2019, according to the company.
Jakob Vedel and Mathias Hillerup Larsen founded s360 in 2011. By 2016, s360 had 20 employees, rising to 70 people with the acquisition of OnlinePartners.
s360 and OnlinePartners specialize in search engine optimization and Google Ads. Both companies operate in Denmark and the rest of Scandinavia. With so many similarities, why the acquisition?
"We expect to see a consolidation of the market for Digital Performance marketing in Denmark and Scandinavia and with this move we take a first step," wrote Frederik Hyldig, head of paid search, in an email to Search Insider. "With the acquisition, s360 will gain an even stronger market position and establish our position as one of the leading digital marketing agencies in the Nordic countries."
OnlinePartners owners Rune Bruun Hansen and Tina Halkjær will remain with the company as senior digital strategist and client director, respectively. Bruun Hansen will also become part of the owner of s360, alongside its founders Vedel and Hillerup Larsen.