CEO and Co-founder of marketing agency, One Great Studio, Djuvane Browne says the company will not be taking on any debt to fund its latest acquisition. 

The company recently acquired public relations firm DRT Communications. 

Speaking on Taking Stock with Kalilah Reynolds, Browne said the acquisition was completely funded by cash reserves, which shows the strength of the company’s financial position.

DRT Communications has been a major player in Jamaica’s public relations industry for 17 years. The company recently launched its media monitoring technology, which helps businesses track and analyse their media presence in real-time. 

Founder of DRT, Danielle Terrelonge says the acquisition will help DRT grow even stronger. All of DRT’s employees are officially joining One Great Studio, ensuring that their clients continue to receive the same quality service they’ve come to expect.

The acquisition is valued at J$115 million. Browne explained that the guaranteed amount is J$80 million, with an additional J$35 million tied to performance-based targets over the next three years. 

The 1GS CEO explained that this means that if DRT meets its goals, there will be extra payouts. But even if things don’t go exactly as planned, both companies have a safety net in place.

Browne also emphasised that One Great Studio didn’t have to borrow any money to make the deal happen. Thanks to strong financial planning, the company had enough cash reserves from its IPO and ongoing profits to fund the acquisition. He said this puts 1GS in an excellent position to keep expanding in the future without unnecessary financial risk.

He added this is just the beginning and One Great Studio plans to make more strategic acquisitions. 

They are focused on continued growth and transforming their business to serve more clients in new and exciting ways.