LBi Buys Social Media Agency Mr Youth

Marketing and technology specialist LBi has acquired insight-based social media and marketing agency Mr Youth, headquartered in New York, in a deal valued at $40-50m.

Amsterdam-based LBi provides a combination of insight, media, creative and technical expertise from operations in sixteen countries. Its suite of services includes analytics, direct marketing and digital competences to help companies attract, engage and manage their customers.

LBi says the acquisition adds social media offerings to its blend of in-house marketing and technology services.

Mr Youth, which was founded in 2002 by Matt Britton (pictured), develops strategies and campaigns around the mix of word-of-mouth, social interactive, and experiential marketing. The firm's RepNation network of 125,000+ consumer members provides marketers with a channel through which to conceive ideas and gain insights from their own consumers, while its CollegeFest platform offers access to the student market.

The firm has 140 full-time employees, and expects 2011 revenue of around $25m. The deal will see Mr Youth operate as a division of LBi, with Britton remaining at the helm of the company.

LBi CEO Luke Taylor comments: 'We believe Mr Youth is head and shoulders above its competitors due to both the quality of it people and the strength of its proprietary technology platforms. After conducting a thorough search for the right agency, we are very pleased to welcome Matt and his incredible team to LBi.'

Web sites: www.lbi.com and www.mryouth.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.