Havas, one of the world’s largest marketing agencies, has acquired a U.K.-based competitor called Ledger Bennet for an undisclosed sum.

The main story here is that Ledger Bennet, which was founded in 1985, focuses primarily on providing services to high-growth B2B companies. That means, among other things, software firms: the agency lists LinkedIn and Indeed among its clients. Software vendors have significantly higher profit margins than most other companies, which means marketing agencies theoretically have an opportunity to charge more.

The Ledger Bennet deal is not simply a margin-boosting exercise on Havas’ part. It ties into a broader strategy. Havas launched a dedicated B2B marketing business in London a couple years ago and the deal will enable it to significantly deepen that business’ talent pool, as well as grow its client roster.

Ledger Bennet is far from the only well-established B2B marketing firm in London. One likely reason Havas chose to buy the firm instead of a rival is that its revenue has grown by 50% since 2022, when it brought Andrea Glenn aboard as CEO.

Following the deal, Ledger Bennet will merge with Havas’ B2B marketing group. The combined team, which includes about 100 employees, will move to a Havas office in London. But while it’s leaving its old office space, Ledger Bennet is keeping its current brand with all but one change: it will now be known as “Ledger Bennet, a Havas Company” in official marketing materials.

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