• by Joe Mandese  @mp_joemandese, August 7, 2024

Effie Worldwide, the New York City-based nonprofit known for the Effie Awards, has agreed to sell its commercial assets to Ascential plc, the British holding company that operates the Cannes Lions, and which itself is in the process of vetting its own acquisition by British publisher Informa.

The Effies, which were original conceived by the American Marketing Association in 1968, operate as Effie Worldwide, a global 501c3 nonprofit whose “mission is to lead and evolve the forum for marketing effectiveness.”

The companies did not delineate explicitly what Effie Worldwide’s commercial assets are, but they said it will join Ascential’s Lions division, and that Ascential will also “embark on a long-term partnership with the not-for-profit organization, which will be transformed into a new global foundation, which will continue to be led by Effie Worldwide President and CEO Traci Alford.

Terms of the deal were not disclosed, but Effie Worldwide reported revenue of $10,058,849 and assets of $5,824,603 for 2022, the most current year of public data for its Internal Revenue Service filings.

As president and CEO, Alford received $454,255 for in compensation for the 2022 tax year.

“We are excited to join Lions with such a complementary, yet distinct, portfolio of brands,” Alford said a statement announcing the deal, adding, “Closer collaboration between Effie, as the definitive marketing effectiveness benchmark globally, and the Lions brands is an exciting prospect for the industry as our ability to share insights and find synergies in our data will help to dissect the role creativity plays in driving marketing effectiveness overall. Together we will be able to better understand the key drivers of growth and ultimately help all businesses succeed.”