Broadline and Sinine Elephant merge

The event marketing and incentive tourism agency OÜ Broadline and the event marketing agency OÜ Sinine Elevant merged toward the end of last year. The company is continuing its activity under the Broadline trademark.

The companies started negotiating the merger in spring 2007 and the entry confirming the merger was made in the Commercial Register on 17 December 2007.

The objective of the merger was to unite the different areas of expertise of the two agencies and their joint desire to offer an even higher quality and level of creativity of marketing and business tourism services in all three Baltic States – to both local and international clients.

“As competition gets more intense, we are seeing growing demand from our clients for special marketing solutions. Companies are cutting their expenses on ‘office parties’, and increasing carefully-considered investments into maintaining client relations and loyalty,” said member of the management board Janek Reimal in commenting on the merger.

According to member of the broadline.events management board Mr Neeme Kari, the Baltics are considered a new and exciting destination for international business clients – especially when it comes to holding specific motivational and training events for employees and clients. “Broadline has been engaged in this particular field – incentive tourism – since 2002. Considering the size of the region, we offer all three Baltic States as destinations on the international level ,” added Kari.

“It is a pleasure to see that in recent years, local corporate clients have also started focusing less on ‘ordinary' parties and more on purpose-driven incentivized programmes and other soft values,” Kari said, summing up the market trend.

“Due to these trends and our increased capacity as a result of the merger, we forecast sales growth of nearly 50 per cent next year -- despite Estonia’s complicated economic situation,” noted Reimal.

The newly merged company made its first post-merger investment, establishing a Latvian subsidiary, Broadline Latvia, on 8 January.

In addition to creating and implementing event marketing solutions, OÜ Broadline offers solutions for incentive and loyalty programmes and organizes motivational events and conferences in all three Baltic States aimed at international corporate clients.

Founded in 2002, OÜ Broadline is the first company in its field with a foreign marketing plan that Enterprise Estonia and the National Development Plan decided to support financially (since 2005) through the relevant European Union structural funds.

OÜ Broadline is based on Estonian capital. The merged company’s unaudited consolidated turnover last year amounted to a total of 24 million kroons and profit was 1.5 million kroons. For 2008, the company forecasts sales of 32 million kroons and a profit of 2 million kroons.

The company employs 11 people.