Financial terms of the deal were not disclosed.
ISEG, a 25-person company, is now a wholly owned subsidiary of CAA’s sports division. ISEG has partnerships with teams, leagues, venues, and properties around the world and manages more than 250 events a year. Their list of corporate customers include Microsoft, Morgan Stanley, Verizon, Merrill Lynch, Goldman Sachs, American Express, Ericsson and Cushman & Wakefield.
“We have enjoyed a long-standing relationship with the team at Inside Sports & Entertainment Group, and have always been impressed by their stellar reputation, commitment to customer service, and level of innovation,” said Michael Levine, Co-Head, CAA Sports in a statement. “This expertise will be complementary to our existing sales and marketing efforts, providing a suite of additional service opportunities for our clients in such areas as corporate hospitality, event management and production, and beyond.”
This acquisition comes on the heels of CAA backing out of bidding for IMG, the global sports and fashion agency, which WME acquired for $2.4 billion in December. While the acquisition of ISEG will help CAA continue to diversify, WME’s sports business is much larger. Combined WME and IMG employ roughly 4,500 employees, approximately three times the number of employees of CAA.
CAA Sports, which launched in 2006 thanks to a team drafted from IMG, has become the agency’s biggest source of growth, with more than 1,000 clients managed by 150 agents.