Italy's SEC Newgate to acquire 70% of Greece's SEE-active V+O

V+O will retain its brand identity and organisational autonomy, with SEC Newgate CEO Fiorenzo Tagliabue joining its board to strengthen the existing management led by president and co-founder Thomas Varvitsiotis and vice-president and CEO Yannis Olympios, the companies said in a joint statement, without disclosing the value of the transaction.

The deal will bolster V+O Group's scale, strength and expertise, facilitating its expansion into new industries, markets and geographies.

"After 22 years of continuous growth, it was time for the next step. V+O's success has been based on our relentless dedication to our clients, a strong commitment to our people and a set of clear values. Joining forces with SEC Newgate will allow us to accelerate growth while remaining true to ourselves and these values," Varvitsiotis and Olympios said.

Athens-based V+O Group, founded in 2000, is one of the largest independent and integrated agencies in the Europe, Middle East and Africa region (EMEA), offering public relations and communications services. It operates in North Macedonia, Greece, Romania, Bulgaria, Albania, Serbia and Cyprus, according to its website.

Headquartered in Milan, SEC Newgate is active globally, with 53 offices and 1,200 employees across five continents.