From left, Granite Digital CCO Robert Carpenter, CEO Conor Buckley and LCM247 founder and president Patrick Heaphy. Image: Granite Digital
Granite Digital expects to boost its revenue by $3m over the next 18 months and has gained a strategic foothold in the US through this deal.
Irish digital agency Granite Digital has expanded to the US by acquiring a majority stake in the digital division of LCM247, a creative agency based in New York.
The deal gives Granite Digital a 75pc stake in the digital division and will see the formation of a new entity called LCM. The Irish company expects to boost its revenue by $3m in the first 18 months following this deal.
The Irish company also gains a strategic foothold in the US and has grown its team to 110 staff worldwide. The financial details of the deal were not disclosed.
LCM247’s team has experience in film production, marketing, aerial filming, branding, and visual creativity, which will give Granite Digital new offerings for its growing base of Irish and US-based customers.
LCM247 founder and president Patrick Heaphy said joining with the Irish Agency will give LCM247 “the resources and shared expertise to continue pushing the boundaries in the digital and creative world”.
Granite Digital was founded in Cork in 2009 and also has locations in Dublin and Galway. The company specialises in design, technology, strategy, digital marketing, advertising and secure managed hosting services.
Its client base includes IDA Ireland, Pfizer, Dalata Hotel Group, Bord Bia, Cork Chamber of Commerce and Webhelp.
The Irish agency has been on an acquisition spree in recent years. Last November, Granite Digital acquired fellow digital services specialist Continuum, which had more than 100 clients across Ireland, the UK, the US, South America and Asia.
Earlier in 2022, Granite Digital acquired Dublin-based Willows Consulting. It has also acquired 11 other Irish digital services businesses in recent years, including Connector, Webtrade, MediaOne and Apps Made Easy.
For four years, the digital agency was recognised by Deloitte as one of Ireland’s 20 fastest-growing tech companies.
“This acquisition of LCM247’s digital division is a transformative milestone for Granite Digital,” said Granite Digital CEO Conor Buckley. “It’s not merely about global scaling, it’s about enriching our portfolio with global experts.”
Granite Digital’s CCO Robert Carpenter said he will relocate to New York to “ensure a seamless transition as our teams unite”.
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