Deal involving Nashville-based digital marketing agency valued at $1M-plus.
The deal, which also includes Stadiumred’s purchase of a stake in Crosshair Music, is valued at more than $1 million, according to a news release.
As part of the deal Garrison Snell, the founder and CEO of both Gyrosity and Crosshair, will stay on after the acquisition to help lead the companies’ future growth.
The acquisition is the first by Stadiumred since it announced plans to grow its overall agency holdings.
“With our combined resources, we can push what we were doing at Gyrosity to a whole new level, offering innovative services uniquely tailored to each client all within one family of brands,” Snell said in a news release.
“Stadiumred has built all of its businesses on the idea of being brand forward and they, like us, have a rich history in music,” he added. “Now joining forces, we will be able to apply what has worked so well for a whole new group of clients.”
Claude Zdanow, CEO of the Stadiumred Group, launched the entity’s first agency business, Stadiumred Life, in 2012.
That agency serves clients in the luxury lifestyle, entertainment, hospitality, business to business, finance, health care, food and beverage and consumer products industries through public relations and digital platforms.