Strategic Intent in Focus: Portfolio Focus and Specialist Growth
Corporate development continues to shape how communications, marketing and related technology businesses compete. This issue brings together acquisitions, minority investments, funding rounds and reported divestment review.
In this edition, three core themes stand out:
Portfolio focus is creating opportunities for a different owner. Informa’s planned Clarion acquisition, WPP’s sale of its PRAP Japan interest and the review of Accenture’s broader Greater China operations show how the same business can have different strategic value to different owners. Groups are reassessing where to commit capital and resources and buyers are looking to build a more focused portfolio around specialist markets.
Specialist expertise is being connected to larger delivery platforms. Cognizant’s DyFlex acquisition and CRMIT’s purchase of Brooke Global connect local expertise with broader technology and delivery capabilities. Island Bell’s acquisition of Prevenance, Dicker Data’s Sektor acquisition and Gallagher’s purchase of Intelligent Communications Experiences brings specialist advice into a wider service offering.
Repeat revenue and measurable results remain central to value. Our previous October newsletter highlighted how buyers value businesses that retain clients, generate recurring income, and show how their work improves client performance. This edition’s highlighted acquisitions continue to reinforce this point – Stagwell’s Freestar acquisition, Salesforce’s proposed Braze purchase and Kevel’s funding reinforce this focus on connecting technology with commercial outcomes.
Accenture Song and TBA are adding expertise in customer intelligence, live experiences and creators. These capabilities become more valuable when they support repeatable programmes and measurable client growth, beyond individual campaigns or events.
If you'd like to explore how Yefira can support your strategic growth plans, reach out to our CEO, George Kypraios, at gkypraios@e-yefira.com.
USA / Japan: DJE to Acquire WPP’s Interest in PRAP Japan
Announced on 1 October, Edelman parent Daniel J. Edelman is buying WPP’s approximately 21% interest in PRAP Japan for JPY 1.271 billion (USD 8.07 million) with the holding representing 21.03% of voting rights. DJE would become PRAP’s largest single shareholder.
The investment gives DJE a deeper connection to an established domestic PR business in a market where local relationships are important, while WPP exits an interest held since 2002.
YEFIRA INSIGHT: “A minority investment can provide market access while preserving local leadership and client trust, proving effectiveness compared to building domestic networks organically.”
Greater China: Accenture Reviews Sale of its Greater China Operations
Accenture has appointed JPMorgan to review a potential sale of its Greater China business, with a possible valuation of up to USD 1.5 billion. The review concerns the wider operations across mainland China, Hong Kong and Taiwan, extending beyond Accenture Song.
Accenture could retain a substantial minority interest to support client continuity. This review includes their portfolio priorities in a more restrictive operating environment, including security requirements that complicate shared IT systems and cross-border delivery.
UK / Ireland: Accenture Song Acquires Sagacity Solutions
Sagacity, the London-based business, contributes customer intelligence, data assets and AI-enabled technology, enabling these capabilities to Song’s UK and Ireland operations.
The combination connects customer insight with strategy, experience design, implementation and operations. It targets industries with large customer bases and complex journeys where better intelligence can support service, retention and revenue growth.
USA / Global: Salesforce to Acquire Braze
Salesforce is set to acquire Braze at approximately USD 5.66 billion on an enterprise value basis, with USD 47.50 cash per Class A share.
Braze contributes real-time, cross-channel customer engagement and AI decisioning. Its mobile, messaging and event-streaming capabilities would complement Salesforce Marketing Cloud, Data 360 and Agentforce, connecting live customer behaviour with wider sales, service and commerce relationships.
YEFIRA INSIGHT: “Pressure to demonstrate marketing returns favours platforms that connect customer data with timely action and retention. For agencies and implementation partners, migration, data architecture and operating-model work may create opportunities as customers assess overlapping tools.”
USA / Global: Stagwell Acquires Freestar
Stagwell acquired Freestar, the publisher advertising services and monetisation business. Freestar’s pubOS platform helps digital publishers manage advertising sales and improve monetisation.
The deal strengthens Stagwell’s Owned Media offering through Freestar’s technology, services and relationships. Publisher clients gain closer access to Stagwell’s advertisers and tools, while Stagwell gains greater access to advertising inventory and audience data.
New Zealand / Global: Waterman Capital Invests in Special
New Zealand PE Waterman Capital has acquired a significant shareholding in Special, the New Zealand-founded global creative agency.
The investment supports international expansion, development of design, PR and strategic consultancy services, and investment in technology and talent. Acquisitions are also a potential growth route, with the US and Asia identified as opportunities.
Special aims to enter at least one new market and introduce one new capability within 12 months.
USA / Global: Kevel Raises USD 52 Million and Considers Acquisitions
Kevel announced USD 52 million of new capital in a Series D funding, taking total capital raised above USD 100 million. Backers include Fulcrum Equity Partners, dunnhumby Ventures, Iberis Capital and ORIX USA’s Growth Capital business.
The funding supports commerce media infrastructure, AI decisioning, international expansion and could fund acquisitions in adjacent technology areas.
UK / Global: Informa to Acquire Clarion Events
Informa agreed to acquire Clarion from Blackstone for an enterprise value of GBP 2.24 billion (USD 2.99 billion), equivalent to 11.1x expected 2027 EBITDA before synergies. More than 100 event brands, including IFA Berlin, DSEI and ICE, add scale in electronics, defence and gaming.
The cash purchase combines acquisition financing with an approximately GBP 940 million equity issue (USD 1.25 billion), including a separate RetailBook offer.
UK / Australia: TBA Group Acquires Majority Stake in Second Sunday
TBA’s first Australian acquisition brings the creative production and events agency into its local business.
Second Sunday contributes production experience including the ARIA Awards and SailGP, alongside its own concert series. The combination connects domestic delivery with TBA’s global rights-holder relationships ahead of Australia’s major sporting calendar, including the 2027 Rugby World Cup and Brisbane 2032.
USA / Australia: Gallagher Acquires Intelligent Communications Experiences
Gallagher acquired Melbourne-based Intelligent Communications Experiences, a consultancy specialising in digital employee communications.
ICE adds expertise in employee experience, digital workplace transformation and technology adoption to Gallagher’s employee benefits and HR consulting business in Australia and New Zealand.
YEFIRA INSIGHT: “Communications expertise is attracting buyers beyond traditional agency groups. As employers invest in digital workplaces and organisational change, employee communications can sit alongside HR, benefits and technology advice.”
Australia / Global: CRMIT Solutions Acquires Brooke Global
The acquisition adds Brooke Global’s strategy consultants and expertise in public sector service redesign, process transformation and digital consulting.
The combination brings advisory capability together with Salesforce implementation, integration, managed services and agentic AI. It positions CRMIT to work earlier in clients’ transformation decisions and then deliver the technology and operating changes across government and regulated organisations.
Australia / New Zealand: Cognizant to Acquire DyFlex Solutions
DyFlex adds local industry relationships across mining, energy, manufacturing, logistics and government.
The proposed acquisition advances Cognizant’s AI Builder strategy, helping clients in Australia and New Zealand turn AI investment into business value across their SAP systems.
It would combine DyFlex’s SAP advisory, implementation and managed services capabilities, including deep SAP Public Cloud expertise, with Cognizant’s AI assets, industry expertise and global delivery scale.
Australia / New Zealand / Southeast Asia: Dicker Data to Acquire Sektor Group
Dicker Data, an IT distributor, is acquiring Sektor, a specialist distributor of point-of-sale, mobility and security technologies, to broaden its product range and expand into Southeast Asia operations in Thailand and Malaysia.
The transaction is valued at NZD 138 million (USD 78.5 million), approximately 6.1x EBITDA multiple, on a cash-free, debt-free basis with normalised working capital. Dicker Data targets annualised post-integration pre-AASB16 EBITDA of NZD $28 million to $32 million through operational synergies and cross-selling.
YEFIRA INSIGHT: “Acquiring established expertise and local networks can accelerate expansion into new services and markets, accelerating regional entry through vendor relationships, networks and local infrastructure.”
Australia: Ctrl:cyber to Acquire Razilio
This acquisition of the cybersecurity consultancy firm follows ctrl:cyber’s purchase of elevenM earlier in 2026 and adds specialist advisory talent and client relationships. This enables them to meet demand for broader advisory coverage and greater delivery capacity.
With Pemba Capital Partners having invested in ctrl:cyber in 2025, the business is building a larger platform while seeking to retain specialist expertise and agility.
Australia: Axelo Acquires Cynch Security
Axelo has acquired Melbourne-based Cynch Security, adding a cyber risk assessment platform, remediation guidance and governance expertise.
Cynch’s technical compliance and maturity capabilities complement the human-risk offering of Axelo’s existing 4walls business. Axelo plans to combine the brands under Axelo Protect, using its wider managed services platform to commercialise the software and extend customer reach.
Australia: Island Bell Advisers Acquires Prevenance
Island Bell has acquired Prevenance, bringing founder Shannon Sedgwick into the business. The transaction adds an experienced technology and professional services leader to Island Bell’s cyber security and strategic advisory offering.
Prevenance advises investors, technology businesses and professional services firms on technology due diligence, operational improvement and growth.
YEFIRA INSIGHT: “Cybersecurity increasingly connects technical protection with governance, operational resilience and business performance. Combining complementary specialists can support longer-term client relationships.”