Montreal’s Parta to acquire Toronto firm MThrty
The two Canadian social marketing firms will become one if a deal for Parta to buy MThrty goes through.
Montreal’s Parta Dialogue is expanding its global social media empire by making an offer to acquire M Thirty Communications Inc. of Toronto.
The proposed deal would see TSX Venture listed Parta buy M Thirty for a price ranging between $1.875 million and $7.5 million depending on M Thirty revenues generated during the 12 month period after the acquisition closes. Each M Thirty stakeholder would receive Parta shares worth $0.25 for each of their common M Thirty shares.
The deal requires due diligence and regulatory approvals before it can be finalized.
Parta already has branch offices in Paris and Mexico City. It counts Renault, Michelin, Nestle and Hydro-Quebec among the roster of high profile international clients for its social media campaign and social metrics offerings. Parta’s eValue Social Media ROI product measures and compares the effectiveness of various corporate brands on Facebook, Twitter and Youtube.
If its deal to buy M Thirty goes through, Parta will gain a foothold in Canada’s biggest digital media market, Toronto.
M Thirty (which uses “M THRTY” as its brand name) was founded in 2003 by Simon Davies and Ed King. Its clients have included music labels Sony, EMI, Warner and Universal as well as Rogers Wireless, Cingular Wireless, Coors, and Procter & Gamble. It has created social media campaigns for legendary rock band the Rolling Stones, Energizer batteries, Discovery Channel Canada and the movie Transformers 2: Revenge of the Fallen.