A consolidation by Olson's parent company ICF International means the Minneapolis advertising giant will expand its global reach.
"We're thrilled about it because it allows us to take the business to a global level and also offer new and different capabilities that we didn't have prior to this in an easy structure," said Margaret Murphy, president and chief operating officer of Olson.
ICF announced Wednesday that it consolidated Olson, its public relations arm Olson Engage and some other agencies it has acquired into a new full-service marketing firm named ICF Olson.
Under the deal, Olson and Olson Engage will still maintain their brand identities as well as their general composition, Murphy said.
"I think that we are more committed than ever to the Minneapolis community," she said.
Virginia-based consulting firm ICF International bought Olson in 2014 for $295 million. A series of other recent acquisitions by ICF, including that of Virginia based web development firm Ironworks Consulting and Chicago-based digital interactive consultancy Citytech, led to ICF Olson's formation.
The newly created ICF Olson will rank as one of the top 50 agency companies in the world by revenue with more than 800 employees across 14 offices in the U.S., Canada and India, according to ICF International. Some Olson staff already have had the chance to visit and work at other offices domestic and internationally, Murphy said.
ICF Olson will be "focused on the intersection of creativity, technology and strategy in areas such as experience management, loyalty and CRM, digital platforms and strategic communications," the company said.
"In unifying these capabilities, we're answering an urgent demand in the marketplace," Sudhakar Kesavan, ICF International's chairman and CEO, said in a statement. "There are many technology-focused providers who work well with [chief technology officers and chief information officers], and many creative agencies that excel at creative- and communications-oriented solutions, but ICF Olson is the rare agency that truly excels at both."
ICF Olson will offer digital solutions, advertising, public relations, social media management, customer relationship management and more, Murphy said.
Normally, clients have to turn to separate businesses which compete against each other for client fees but, according to the company, ICF Olson will have all these capabilities under one unit that yield "the flexibility and the incentive to provide the best solution for clients regardless of where they fall in the corporate structure."
"The umbrella of ICF Olson allows us to keep the client at the center," Murphy said.
Nicole Norfleet • 612-673-4495
Twitter: @nicolenorfleet
