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New York-based Elevate has acquired RISE Group, a marketing and commercial services consultancy headquartered in Riyadh and Dubai.
The acquisition of undisclosed value is subject to customary regulatory approval. It marks the US company’s foray into the Middle East and North Africa (MENA) region, as it seeks to tap into the growing sports and entertainment market.
The investment is expected to enable the Middle East company to scale its operations.
As part of the deal, RISE co-founders Seth Holmes and Tom Berrington will assume key leadership roles within Elevate. The Middle East company will also maintain its offices in Riyadh and Dubai.
A global agency network that helps properties, brands and universities forge connections with their audiences, Elevate serves clients across consumer products, retail, entertainment and sports among others.
(Writing by Cleofe Maceda; editing by Seban Scaria)
