Arun Sudhaman 01 Feb 2024 // 12:11PM GMT
ATHENS — SEC Newgate is to acquire 70% of Greece's largest communications group, V&O, which numbers 180 employees.
The Italian holding group will acquire 70% of the 22-year-old Greek company over a five-year period, while V+O will retain its organisational autonomy. SEC Newgate global CEO Fiorenzo Tagliabue joins the V+O Group board of directors while Thomas Varvitsiotis and Yannis Olympios will remain in operational charge of the group.
"After 22 years of continuous growth, it was time for the next step," said V+O founders Varvitsiotis and Olympios. "V+O's success has been based on our relentless dedication to our clients, a strong commitment to our people and a set of clear values. Joining forces with SEC Newgate will allow us to accelerate growth while remaining true to ourselves and these values."
After a string of acquisitions, SEC Newgate has grown rapidly into a network of 53 offices and 1,200 employees across five continents, landing Global Corporate/PA Agency of the Year in 2023.
“I have known and worked with Thomas, Yiannis and their teams for a number of years and I am very excited by their commitment to meaningful results and their great cultural fit with SEC Newgate," said Tagliabue. "We welcome our new colleagues from V+O Group, who we look forward to working closely with in the coming months and years across all our geographies, starting from our Eastern EMEA business region, the initial and natural area for V+O to develop their activities with us."