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Zionsville-based Just Marketing International, a global marketing firm focused on motorsports, has been purchased by a London company.
Chime Communications PLC and JMI announced the $76 million deal Thursday evening. JMI will become part of Chime's sports marketing division, CSM Sport & Entertainment, and operated as a wholly-owned subsidiary.
CSM Sport & Entertainment is a major player in global sports marketing with offices in 13 countries, but JMI will be its first venture in the United States.
“This is the most sizeable acquisition CSM Sport & Entertainment has made to date and signals our strategic entry into the exciting world of motorsports and the important U.S. market,” said CSM Sport & Entertainment Executive Chairman, Lord Sebastian Coe. “This is a deal that makes sense for CSM Sport & Entertainment on multiple levels.”
JMI was founded by Zak Brown in 1995 and employs approximately 130 people in the Indiana, UK and Hong Kong. It works predominantly in Formula One, NASCAR and IndyCar.
Brown will remain CEO of JMI within the Chime Group, heading up a new motorsport division and also becomes Global Head of Business Development within CSM Sport & Entertainment.
"This is the most exciting moment in JMI's history. CSM Sport & Entertainment was the perfect choice to take JMI forward and we couldn't be more delighted that our futures are bound together,” Brown said. “We recognized the synergies from the start and the potential for our clients and our people is massive.”
Jim Glover, CEO of CSM Sport & Entertainment, said JMI’s reputation and performance level made the company a natural choice as an acquisition for his company as it looks to expand its presence in motorsports.
“As the industry leader no-one knows global motorsports marketing like JMI and having Zak and his talented colleagues on the team will help build on CSM Sport & Entertainment’s leading position in the industry," Brown said.
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