Los Angeles-based Agency Hypothesis Group Acquired by London-based Elixirr

Los Angeles-based insights and strategy agency Hypothesis Group was acquired by London-based Elixirr Inc. for $28.9 million in cash on October 21. The deal for the design and creative agency includes a potential deferred consideration of $7.6 million.

“We first met the Hypothesis team about 18 months ago, and the opportunity to join forces has consistently excited us ever since those very first discussions,” said Stephen Newton, Elixirr chief executive, in a statement.

Hypothesis was founded in 2000 by Maria Stark and Jeff Seltzer and has a second office in Seattle. The company serves all industries with a focus on consumer, technology and entertainment, including five of the seven largest tech and media companies. As of August 2024, Hypothesis Group reported revenue of $28.1 million. Hypothesis Chief Executive Maria Vallis will join Elixirr as a partner based in Los Angeles.

“Elixirr’s strong expertise across different verticals, including financial services, healthcare and insurance, alongside the ability to add data, AI, digital and innovation capabilities to our skillset is really exciting to us, and we look forward to seeing what our teams can accomplish together,” said Vallis in a statement.