CreateThe Group buys Morpheus Media to boost digital services
The acquisition will broaden CreateThe Group's digital marketing, media and global commerce services, James Gardner, CEO of CreateThe Group, said via email. Morpheus' capabilities included display media, paid search, natural search optimization, social media management, mobile and pay-for-performance marketing.
“CreateThe Group has worked collaboratively with Morpheus Media for the past six years on shared clients such as Donna Karan, Marc Jacobs, DeBeers and Jurlique, among others,” said Gardner. “We knew that we had great synergy together.”
Morpheus Media founders Shenan Reed, Alex Golimbu and Jamie Driver will join CreateThe Group's management team. Reed will lead the Morpheus division as chief media officer, reporting directly to Gardner. Golimbu will serve as SVP of media operations, and Driver will be SVP of business development.
CreateThe Group has not yet determined the rest of its revised organizational structure, said Gardner, who added that the deal will not result in layoffs.
Morpheus Media will bring its entire client roster to CreateThe Group, including Louis Vuitton, Dior and Moet & Chandon. Aside from Donna Karan and Marc Jacobs, CreateThe Group's client list includes Burberry.
Financial terms of the deal were not disclosed. AdMedia Partners acted as Morpheus' financial adviser through the transaction process.