Learfield Sports, a college sports multimedia rights firm, entered into an agreement to acquire the sports marketing company Licensing Resource Group.

Learfield represents more than 220 universities, colleges, athletic conference and special properties throughout the nation. The acquisition expands Learfield's national services to its collegiate partners, which includes the exclusive multimedia rights to 99 collegiate properties in the United States, President and CEO Greg Brown said.

LRG has 36 employees with five offices throughout the nation. Brown says he doesn't plan to make any employee changes. LRG primarily provides schools with a suite of licensing services, including trademark and brand management.

“Learfield, with its trusted relationships throughout college athletics, will provide additional resources and industry connections to help fuel future growth of LRG,” Brown said in a statement.

The terms of the acquisition were undisclosed.

Hardy will continue to manage LRG day-to-day and will report to Learfield Sports' COO Marc Jenkins. The licensing services will be a part of a group that includes other businesses complementary to Learfield's multimedia rights operation. This group includes its joint ventures to provide hospitality and concessions services and ticket sales for collegiate programs. The expansion of complementary businesses is a primary component of Learfield's strategic plan for growth.

“We will continue LRG's record of personalized service and proven results for clients,” noted Brown. “Those expectations are in perfect alignment with Learfield's approach to doing business and serving our university partners.”