SourceCode Communications has acquired Chicago-based creative agency Strike 2, the firms said on Wednesday.
Terms of the deal, which closed on September 30, were not disclosed.
The acquisition will help SourceCode expand its digital practice, launched this year, bringing advertising, creative and campaign development in-house as Strike 2 joins the SourceCode Group network.
In addition, the SourceCode Group includes WeRaise PR, its bespoke PR agency for working mothers, and the nonprofit Diversity Marketing Consortium, which provides pro-bono marketing services to minority- and women-led startups.
The acquisition comes as SourceCode continues to see steady revenue growth four years after its launch. The agency is on-track to achieve more than $8 million in revenue by the year’s end, according to a SourceCode spokesperson. Last year, it posted $5.2 million in revenue, up 49% from the year prior, according to PRWeek’s Agency Business Report 2021.
“At SourceCode, we believe that public relations needs to be holistic and integrated, and as we were continuing to build out our creative and digital strategy capability we launched at the beginning of this year, this was a natural extension,” says Greg Mondshein, CEO, via email. “Combining agencies provides us the ability to offer both extended digital services and bigger creative campaign thinking to enhance and enrich our storytelling and integrated campaign-development programs.”
SourceCode will retain Strike 2’s clients, adding 12 to its roster. The firm has also begun to make joint pitches. Strike 2 clients include Earlens, Breather and Splash Financial.
SourceCode will also retain the Strike 2 brand and its team, bringing joint headcount to 39, including 11 on the executive team. The joint firm will not restructure teams, and will have Strike 2 cofounders Jason Weinberger and Matt Kaminsky join SourceCode’s leadership team as MDs.
“We love all that Strike 2 stands for: humanity, collaboration, exceptional work and an obsession with effectiveness,” Mondshein said in an email. “[Keeping the brand] will enable us to continue to leverage the brand equity they’ve built and maintain Strike 2’s robust pipeline of creative, brand and digital-only opportunities, all while rolling it into the broader SourceCode Group.”
This story first appeared on PRWeek US.
