SYDNEY – Australian marketing services company IVE Group Ltd (IGL.AX) said on Monday it will acquire creative agency Daily Press Pty Ltd for up to A$35 million ($23.3 million), as part of its strategy to expand its digital and content marketing capabilities.
The deal, expected to complete on Dec. 31, will see IVE pay A$25 million in cash upfront, with up to A$10 million in additional payments contingent on Daily Press meeting performance targets over the next two years, the company said in a statement.
Daily Press, founded in 1999, specialises in social media management, performance marketing and digital content production, and employs about 65 staff across Australia. The agency is expected to contribute annual revenue of about A$23 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of roughly A$5.5 million.
IVE, Australia’s largest diversified marketing firm, said the acquisition will enhance its creative-led, integrated offerings and strengthen its position as an end-to-end marketing partner. Daily Press will be folded into IVE’s Creative, Content & Integrated Solutions division and relocate to IVE’s Sydney headquarters in 2026.
“This acquisition significantly accelerates our ambition to deliver an additional A$75 million of sustainable Creative & Content revenue by 2030,” said Matt Aitken, Managing Director of IVE Group.
IVE said it expects to achieve annual cost synergies of about A$1 million by bringing in-house print and distribution services currently outsourced by Daily Press. The deal also includes Daily Press’s proprietary marketing technology platform, Indy, which helps brands manage content across print, digital and social channels.
($1 = 1.5015 Australian dollars)