Cannes Lions parent company Ascential has struck an agreement to acquire the commercial assets of Effie, which organizes the Effie Awards that honours effective marketing from around the world.

Under the agreement, Effie would join Ascential’s Lions Division, which champions creative marketing. The deal is subject to regulatory approval.

Effie celebrates marketing effectiveness around the world, running its awards for more than 50 years, and holding more than 55 programs spanning more than 125 markets, including the Global Effies, as well as national and regional Effie programs. Effie’s resources also include the Case Studies Library of examples of effective marketing, as well as the Global Effie Index that ranks the most effective companies and brands.

Ascential has also announced a long-term partnership to create the Effie Lions Foundation, which will be dedicated to educating new talent, offering training for marketing students, especially those who are underrepresented in the marketing industry. The foundation will also be home to Lions’ other not-for-profit initiatives, and offer access to some of the Lions Division’s digital products.

“This historic partnership will complement the insights and intelligence on marketing and creative effectiveness Lions already offers via WARC, The Work and Contagious, providing marketing leaders worldwide with the data and evidence they need to make the case for creative marketing that matters,” Ascential CEO Philip Thomas said in a statement announcing the deal. 

“Meanwhile, the creation of The Effie Lions Foundation, Inc. will educate and inspire our industry, and broaden the opportunities available to everyone to build a career in creativity and marketing.”

Effie will continue to be led by its president and CEO Traci Alford.

The agreement follows soon after Ascential itself reached a deal to be acquired by UK company Informa, earlier this summer. The move adds Ascential’s Cannes Lions Festival to Informa’s portfolio of events.