Chinese marketing services giant and S4 competitor BlueFocus is spinning off its agencies in a $300m deal with Legacy Acquisition to create Blue Impact. The new company will be based out of the former offices at Legacy’s headquarters on Manhattan’s Upper East Side. BlueFocus will own 44.4% of Blue Impact subject to the transaction being approved by Legacy shareholders. Marchand told the Holmes Report that, despite the consolidation across campuses, Blue Impact will retain the individual agency brands. Last year BlueFocus was engaged in a bidding war for MightyHive, losing out to S4 Capital.
Chinese marketing services giant and S4 competitor BlueFocus is spinning off its agencies in a $300m deal with Legacy Acquisition to create Blue Impact. The new company will be based out of the former offices at Legacy’s headquarters on Manhattan’s Upper East Side. BlueFocus will own 44.4% of Blue Impact subject to the transaction being approved by Legacy shareholders. Last year BlueFocus was engaged in a bidding war for MightyHive, losing out to S4 Capital.