RealTime IT News

Outrider Takes 25% Stake in Kokopelli

Outrider, a new media holding company created by Tempus Group plc , said that it has acquired a 25 percent stake in New York City-based Kokopelli New Media.

Kokopelli is an interactive agency that provides strategic marketing and business solutions for a number of clients including Merck & Co. Inc., W.W. Grainger Inc., VH1 Cable Channel and direct marketer ADVO Inc.

"Kokopelli New Media is a young company with a real understanding of how companies can successfully leverage client relationships on the Web," said Rob Norman, CEO of Outrider. "They have developed robust client services and a strong yet flexible management infrastructure while all along excelling in creative business solutions."

Kokopelli will remain completely independent, but we expect the Kokopelli team to create valuable synergies with both CIAVSM and Multimedia Marketing Group, both of which joined Tempus Group in September 1998. In addition, the arrangement with Kokopelli New Media will enable Tempus Group's existing European new media companies to offer services to their U.S. clients if needed."

"This alliance with Tempus allows Kokopelli New Media to accelerate expansion of our core business to better serve our existing and future clients," said Spencer Spinnell, chief creative officer of Kokopelli. "We are delighted to partner with a global company like Tempus. The relationship will enable us to be more competitive and will significantly enhance our services and resources to the benefit of our clients. We are particularly excited to grow the areas of production and account management staff and e-commerce capabilities."

Tempus Group plc is a UK media buying communications agency with 36 offices in 23 countries throughout Europe, Asia Pacific and the U.S., employing more than 1,200 people. Specifics of the investment were not disclosed.