JMI CEO Zak Brown (left) and CSM Sport & Entertainment Executive Chairman, Lord Coe
London-based Chime Communications PLC has acquired JMI, the global motorsports marketing company founded by Zak Brown. JMI will become part of its sports marketing division, CSM Sport & Entertainment.
In a deal announced by CSM Sport & Entertainment Executive Chairman, Lord Coe, and JMI founder & CEO Brown, Chime acquires JMI as a wholly owned subsidiary. 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," said Brown. "We recognized the synergies from the start and the potential for our clients and our people is massive.”
JMI was founded by Brown in 1995 and employs approximately 130 people in the US, UK and Hong Kong. It offers a host of integrated marketing services, operating predominantly in Formula 1, NASCAR and IndyCar.
“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," commented Lord Coe. "This is a deal that makes sense for CSM Sport & Entertainment on multiple levels. It will bring value to shareholders, clients and employees alike, as motorsports and the US are two untapped areas for CSM Sport & Entertainment and to be truly global we have to be in them. On top of that, Zak's record and leadership in driving major sponsorship deals will be a significant boost for our overall business."
Jim Glover, CEO of CSM Sport & Entertainment, added: “JMI's reputation and performance are both outstanding and make the company a natural choice for CSM Sport & Entertainment as an acquisition. 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."