17 February 2013
Lubie Acquires Rival Oxtal Solutions
Since early February, Sherbrooke communication agency Lubie and its Magog rival Oxtal Solutions have been a single entity. The principals of both agencies reached an agreement after two years of negotiation.
Philippe Vachon, co-founder and president of Lubie, explained that “the two companies’ philosophy and vision for the future were too similar to stand in the way of such a natural fit.”
This new acquisition means that Lubie can boost its service offering, especially its technological expertise. Oxtal Solutions’ full-time employees will keep their jobs, but will be relocated to Lubie offices, although the purchaser would like to maintain a small satellite office in Magog, where it has a number of active clients.
Since last summer, the company has turned down two acquisition offers by Montréal agencies. According to Vachon, the principals prefer to keep their name and have opted for an expansion strategy as a way of keeping their regional flavour intact, adding that they hope to acquire other regional competitors over the next two years.
Lubie’s objective is not only to double sales in the next two years, but to create 15 new jobs in the areas of strategy, graphic design, and web programming as well. A move is also apparently in the works to a three-story building at 85 Albert Street, which the agency acquired in the spring of 2012.
Source: Lubie and La TribuneBack to the news