The Creative Arts Agency, the US sports and entertainment giant, has acquired International Creative Management (ICM) Partners, a leading sports and entertainment agency, to help increase the opportunities it offers to clients.

Through the merger, the two entities will share their network of resources and expertise.

CAA will utilise ICM’s network of global partnerships in film television, music, comedy, theatre, games, politics and podcasting.

According to Reuters, the deal is due to close later this year.

ICM is also reported to have sold a one-third stake to private equity firm Crestview Partners for around $150 million in 2019.

Richard Lovett, Kevin Huvane and Bryan Lourd, representatives from CAA, said: “The strategic combination of CAA and ICM bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace.

“Our strong financial position enables us to continue to expand and diversify our businesses, with service and representation remaining central to what we do and who we are. We’re fortunate to have a partner in ICM who shares our commitment to the widest and most inclusive vision possible for what our clients and company can accomplish together.”

Chris Silbermann, from ICM, added: “Together, we will build upon our accomplishments and entrepreneurial spirit, and continue to demonstrate an unwavering commitment to the best interests of our clients, as well as empowering new, diverse voices within the industry.”