WSJ report: Overland Park-based DEG posts $150M exit in deal with Japanese ad behemoth
December 18, 2018 | Startland News Staff
Top-tier Kansas City digital agency DEG will provide a global advertising giant with an opening into the U.S. market, as well as push the locally-headquartered firm’s reach international, the companies said Tuesday.
Dentsu Aegis Network announced the acquisition of Digital Evolution Group (DEG) as part of an effort to transform its existing creative hub, Isobar. Dentsu and DEG declined to detail the terms of the acquisition, though the Wall Street Journal reported the sale as an approximately $150 million transaction.
Neal Sharma, DEG co-founder and CEO
“All of us at DEG are excited about what this partnership with the world’s leading digital experience agency will allow us to offer our clients and their customers,” said Neal Sharma, CEO of the freshly rebranded DEG Linked by Isobar. “Dentsu Aegis Network and Isobar’s vision for how our industry is evolving is spot-on, and combining global scale, people-based insights, and proven innovation with our existing capabilities and talents will provide an unparalleled caliber of service across the customer journey.”
Founded in 1999, DEG is led by Sharma, Dale Hazlett, Jasvindarjit Singh, Jeff Eden and Sky Morey, and is one of the fastest-growing and most-respected digital commerce agencies in the U.S., Dentsu said in a press release.
“Today marks an important step in the evolution of DEG,” Sharma said in a LinkedIn post. “So proud of and thankful for my business partners and my DEG Family, and excited for what lies ahead.”
Headquartered in Overland Park and with more than 300 employees, DEG has additional offices in Denver, Pittsburgh and Des Moines as well as a satellite office in Manila, Philippines. Its clients include Purina, AMC Theatres, Fender Guitars, Hallmark and LVMH.
Sharma will continue to lead the agency and will report directly to Deb Boyda, CEO Isobar U.S., according to Dentsu. The DEG management team is expected to remain unchanged.
DEG’s acquisition will cement Dentsu Aegis Network as one of the largest agency partners of Salesforce in the world, as well as position Isobar and DEG as a leading multi-cloud agency partner, Dentsu said.
“DEG shares Isobar’s focus on the fusion of creativity, strategy and technology to transform experiences and achieve real business results for our clients,” Jean Lin, Global CEO Isobar said. “The synergies between DEG’s and Isobar capabilities, and DEG’s depth of expertise in the Salesforce platform, will ensure market-leading commerce solutions for our clients in the United States and beyond.”
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
KCultivator Q&A: Darcy Howe helps awaken a sleepy city from its safe spaces, talks rest and refueling
Editor’s note: KCultivators is a lighthearted profile series to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. Empowering Kansas City entrepreneurs to realize their dreams is in Darcy Howe’s blood, she said with a coy smile, seated in an open meeting space atop the 24th floor of her downtown office. “Kansas City was…
Fishtech securing market position in the face of emerging threats, founder’s own win record
On track to reach $100 million in annual revenue by 2020, it’s full steam ahead for the cyber security freight train Fishtech Group, said serial entrepreneur Gary Fish. “It took me about 14 years to get [to $100 million] in my first company,” explained Fish, founder and CEO of the three-year-old, Martin City-based, data-driven security…
University of Saint Mary launching entrepreneur boot camp to supplement OP campus’ healthcare focus
A new, four-week crash course in entrepreneurism is coming to the University of Saint Mary’s Overland Park campus, with officials hoping the pilot helps healthcare-focused students better connect with needed business skills. “We have a lot of wisdom to share,” said John Shultz, vice president for admissions and marketing at the university, noting a treasure…
Kauffman address leaves DC; Execs say the people (not politicians) will revive entrepreneurship
Everyone should have the opportunity to take a risk, achieve success, and give back to their communities through entrepreneurship, Wendy Guillies said. But it’s a collaborative process that begins at home, she noted. “The reality is we all have a part to play in creating a more prosperous national economy and that starts with growing…