The Jetstar Group has sold its 50% stake in on-campus marketing firm Campus Intercept as it looks to refocus on its core competency of engagement marketing. Financial terms of the deal were not disclosed.
Jetstar initially invested in Campus Intercept in 2006. Jetstar president Julie Petch said the sale of its stake in Campus Intercept back to the company is the result of a careful evaluation of Jetstar’s business.
“We took the year to make sure we were focusing on the right thing and putting all of our resources in the right place to build our brand,” said Petch, who arrived at the company from Capital C in November 2009.
“[Jetstar] was a good name in the industry, but we also had a number of other brands in our group, including Campus Intercept, so what we wanted to do was focus all of our attention on Jetstar, our core competencies and our engagement marketing.”
Proceeds from the Campus Intercept sale will be re-invested in Jetstar’s core business, industry research and new hires, said Petch.
“We really want to focus on the core clients we have,” she said. “A lot of them are looking to get into new areas, and we’re looking to expand our offering to make sure we have the right people with the right skills and knowledge base and make sure we’re training them correctly to help continue delivering great products for them.”
Jetstar counts Sennheiser Americas, PepsiCo, Church & Dwight’s Trojan Condoms brand and Toshiba among its clients.
Andrew Au, a principal at Campus Intercept overseeing partnerships and business development, said his company is on a steep growth trajectory and will not be hindered by its new independence.
“While our partnership [with Jetstar] was a growth catalyst at the onset, [our] sustained organic growth quickly outpaced this ‘growth spurt,’” Au said. “To see our networks and properties expand at this rate is pretty exciting.”
