Wisconsin-based Quad/Graphics is buying Periscope, one of the nation's top five independent creative agencies by annual revenue. Under terms of the agreement, Quad/Graphics will purchase Periscope for $132.5 million. The transaction has been approved by both companies' boards of directors and is expected to close in early 2019.
"With Periscope, we will create a truly integrated, end-to-end marketing platform that we believe will create more value than the traditional siloed agency approach that exists today,” said Joel Quadracci, chairman and CEO of Quad/Graphics. “Periscope will turbo-charge our existing offering with its world-class capabilities in strategy, including media buying and analytics, creative and account management. Additionally, Periscope's first-rate packaging design and premedia services will complement our robust print-production capabilities."
Quad's acquisition of Periscope supports and accelerates the company's ongoing Quad 3.0 transformation as an integrated marketing solutions provider. "Periscope is an important next step in our journey, significantly adding to the capabilities from our recent investments in Rise Interactive and Ivie & Associates," Quadracci said.
Established in 1994 by Bill Simpson, Periscope was built on the success of the Simpson family typesetting and production company, which was originally established in 1960.
Periscope is headquartered in Minneapolis and has offices in Chicago, Hong Kong and Delhi. Among its clients are eArctic Cat, Autotrader, BASF, Bridgestone, Cox Communications, Intuit, Kelley Blue Book, Krispy Kreme, Petco, Red Robin, Target, Toro, Trolli, UnitedHealth Group and Walgreens.