The Stagwell Group Announces the Successful Combination of Stagwell Marketing Group With MDC Partners, Forming Stagwell Inc. (NASDAQ: STGW)
Summary
“ In 2015, I started Stagwell with a vision to create a digital-first, collaborative, founder-led alternative to the holding companies that was focused on delivering what modern marketers need. We started with an idea and a great investor; less than six years later, we take the next step as a publicly traded, $2B company with over 10,000 global employees offering every service CMOs deserve,” says Mark Penn, Chairman and CEO of Stagwell Inc. “ Stagwell brings together storied creative talent with the digital-first expertise required to succeed in today’s world. We are focused on value creation – driven by prudent financial management, concentration on sustainable growth and the development of technology products to deliver shareholder value,” says Jason Reid, Chief Investment Officer at Stagwell. In connection with the Combination, MDC continued as a corporation incorporated under the laws of the State of Delaware and merged to become a wholly-owned subsidiary of Stagwell. Except as described above, Stagwell Agency Holdings and its affiliates and joint actors currently have no plans or proposals which relate to or would result in any transaction, event or action enumerated in paragraphs (a) through (k) of Item 5 of Form 62-103F1.