Project Worldwide Acquires New York Social-Media Agency

Holding company Project WorldWide has acquired New York social-media agency Affinitive. Terms of the deal were not disclosed.

The employee-owned holding company has been steadily bulking up through acquisitions. Affinitive will add $5 million to $10 million in annual revenue to Project, said Chairman-CEO Robert Vallee.

Project had $261 million in worldwide revenue in 2011 with 37% originating outside the U.S., according to Ad Age DataCenter,Affinitive, which was founded in 2002 and counts Random House, E.&J. Gallo Winery and Ubisoft among its biggest clients, started as word-of-mouth agency and creates and manages online brand communities, loyalty programs and social and mobile apps. Affinitive is a Facebook preferred marketing developer.

The plan is to continue its acquisition streak, said Mr. Vallee, adding that agencies in South America and Indonesia as well as those specializing in mobile and public relations are of particular interest.

http://adage.com/article/agency-news/project-worldwide-acquires-york-social-media-agency/235190/