April 20, 2024

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[THE INVESTOR] Cheil Worldwide, Samsung’s ad-making unit, said on March 2 it has acquired PSL, a global pricing strategy consulting firm based in Toronto, in a bid to expand its business-to-business services.

The deal was made through Iris, Cheil’s subsidiary in the UK. The purchasing price was not revealed. 

Cheil Worldwide

PSL, established in 1993, provides pricing management, strategy and advisory services for business-to-business and business-to-customer marketing. It has a diverse clientele, including publishing, design, IT and medicine.

Cheil said it will seek synergies between PSL and Founded, a London-based consulting firm it acquired in April last year, paving the way for it to expand its presence in the B2B marketing market in Europe and North America.

Along with China and Korea, Europe is one of the top three markets for Cheil. In China, the firm operates a local unit called Pengtai.

“PSL will play a role in enhancing the global network of our agency capacity and expansion of our new global businesses,” Lim Dai-ki, Cheil CEO said.

By Park Yuna (yunapark@heraldcorp.com)