Maxxcom, Toronto, made its first acquisition outside North America by picking up a 60% stake in integrated communications agency Interfocus Network, London, from the Lowe
Group. Maxxcom has a majority stake in 18 agencies in the U.S. and Canada. Its U.S. holdings include Margeotes/Fertitta & Partners, New York. The Interfocus investment is a way for Maxxcom, which generates 75% of total revenue in the U.S., to present itself as a truly multinational network, said Maxxcom President-CEO Beverly Morden. The purchase provides the financial muscle for Interfocus to immediately acquire Osprey London Ltd., part of Osprey Communications. That move will boost Interfocus' $87 million in annual billings to an expected $114 million.
Copyright September 2000, Crain Communications Inc.