Havas has announced the acquisition of Ledger Bennett, a global B2B marketing agency with headquarters in the United Kingdom. This move will expand Havas’ capabilities in the rapidly expanding B2B market in the United Kingdom and abroad. Ledger Bennett will now be affiliated with the Havas Media Network and branded as “Ledger Bennett, a Havas Company.” Havas recently made a strategic acquisition of Ledger Bennett to modernize its operating model. It is in response to client demands for faster organizational transformation toward greater customer focus.
Havas announces acquisition of Ledger Bennett
Established in 1985 by Nicholas Ledger, Ledger Bennett has established itself as a formidable force in business-to-business (B2B) marketing thanks to its comprehensive ‘Forever Customer’ offering. This proposition generates enduring value and a smooth brand encounter throughout the B2B marketing process, in line with Havas’ customer-centric evolution strategy. Ledger Bennett currently serves clients in the industrial, tech, and B2B services sectors, including GE Digital and LinkedIn, and is active in EMEA, APAC, and North America.
Fastest growing B2B agency
Since Andrea Glenn took over as CEO in 2022, Ledger Bennett’s revenue has increased by 50%. This is thanks to acquisitions such as Expleo, Aptean, and Indeed. Ledger Bennett was named the fifth fastest-growing B2B agency in the United States in 2023 by the B2B Marketing Awards, which were held under her direction. With its progressive “Fluid Talent” model, marketing talent is seamlessly integrated into a client’s organization. It gives them the scale and skills they require as demands come and go. Its concept has brought it recognition across the industry for projects like its GE Digital “Mastering the Balance” campaign, among other things.
Expanding B2B capabilities with the acquisition
Havas made the acquisition as the most recent move in its effort to broaden the range of services it offers. Additionally, to better serve its clients’ evolving digital and data needs as they become more customer-focused. To strengthen its capabilities in performance marketing, dynamic creative and content services, and ecommerce, Havas has acquired Search Laboratory, additive+, and Expert Edge (now Havas Market UK) over the past two years. Along with Havas Play, a global creative cultural partnerships and activations agency, the company also brought Havas Media Network’s audience and data platform, Converged, to the United Kingdom in 2023. This is because agencies are rushing to implement cookie-less cross-platform planning-to-activation solutions.
Since two-thirds (66%) of B2B marketers expect their budget to increase or remain the same over the next 12 months, Ledger Bennett gives Havas’s B2B capabilities even more scale and depth to meet the exponential. Moreover, it gives ongoing growth in B2B marketing requirements and budgets. The fully integrated offering from Ledger Bennett also enhances the B2B services provided by Havas Media Network members Maitland and Gate One, two other Havas Village London agencies. Ledger Bennett intends to explore the untapped potential of current Havas Village functionalities. These include CX and e-commerce, for business-to-business applications.
B2B journey in U.K
To officially begin its B2B journey, Havas Media Network UK established a specialized division in 2022 called Havas Business. Havas Business currently works with companies like 3M, JDE Professional, and Maersk. Furthermore, it was awarded the Grand Prix at WARC B2B effectiveness for the past two years. Under Ledger Bennett, Havas Business will unite, creating a B2B specialty within the Havas Media Network with over 100 employees.
The London-based employees of Ledger Bennett will relocate to Havas Village London in March 2024. Andrea Glenn, the CEO of the agency, will lead it and report to Patrick Affleck, CEO of Havas Media Network UK, and Ireland.
Here’s what they said
Yannick Bolloré, Chairman and Global CEO, Havas, said,
We are excited to welcome Andrea, the Ledger Bennett team and its impressive list of clients into our Havas family. Bringing together marketing, sales, customer and product teams under the goal of maximizing customer lifetime value is going to be critical for the best brands in the next five years. Ledger Bennett brings a go-to-market solution to our Village that perfectly supports our One Havas strategy. The growth of B2B marketing continues to accelerate and will be important for B2B brands as well as B2C brands with B2B potential.
Patrick Affleck, CEO, Havas Media Network UK & Ireland, commented,
B2B marketing is ripe for disruption and Ledger Bennett are genuine disruptors within this space. Its ‘Forever Customer’ proposition, which focuses on creating lifetime value is both unique and differentiating and will bring further sophistication to our existing B2B offering. Andrea has done an incredible job at turning Ledger Bennett into a fast-growing business with immediate expansion potential and a compelling highly scalable solution. Importantly, Ledger Bennett is trusted by some of the world’s most ambitious, progressive and sophisticated global businesses, and I’m excited about what we can further build and achieve together.
Andrea Glenn, CEO, Ledger Bennett, a Havas company, added,
When we started this process, we wanted to disrupt B2B marketing. Our conversations with Havas have been energising and there’s a palpable ambitious appetite to scale B2B within Havas Media Network and throughout Havas. That’s convinced us Havas would be a great place to accelerate our growth with a combined offering of progressive B2B capabilities from Ledger Bennett and B2C firepower from Havas.
Nodwin Gaming, the esports subsidiary of Nazara Technologies, announced a major move on January 24 by acquiring a 100 percent stake in Comic Con India for a substantial sum of Rs 55 crore. This strategic cash and stock deal involves Nodwin Gaming paying Rs 27.4 crore in cash and swapping Rs 27.5 crore worth of Comic Con India shares with its own.
Comic Con India, founded in 2011 by Jatin Varma and Karan Kalra, has become synonymous with pop culture festivals that target the youth demographic across India. These festivals celebrate a wide array of popular culture elements, including comics, cosplay, movies, television shows, merchandise, and gaming. The events have been held in major cities such as New Delhi, Mumbai, Bengaluru, Hyderabad, and Chennai.
Despite the financial challenges posed by the Covid-19 pandemic, which reflected in Comic Con India’s financials, Nodwin Gaming plans to leverage this acquisition to expand the number of festivals and extend its reach to more cities in India and other countries.
Nodwin Gaming has been on an expansion spree in recent times, making strategic acquisitions and investments to strengthen its presence in both Indian and international markets. This includes a 51 percent stake in Singapore-based live events firm Branded, a significant stake purchase in the gaming and adjacent IP businesses of OML Entertainment, and the acquisition of a game marketing agency named Publishme. The company also raised $28 million in May 2023, with new investors like Sony Group Corporation and Innopark, propelling its valuation to $349 million.
The acquisition of Comic Con India adds another dimension to Nodwin Gaming’s portfolio, promising an enhanced experience for fans with a broader array of events celebrating the convergence of gaming, esports, comics, and popular culture. With this latest move, Nodwin Gaming aims to solidify its position as a leading player in the interactive entertainment sector, both in India and on the global stage.
And what they said
Akshat Rathee, co-founder of Nodwin Gaming said in a statement released,
Integration of Comic Con India will amplify and diversify the offering of Nodwin to all opportunities that target the youth in India. With the continued intersection of Gaming/ Pop Culture/ esports into one interactive entertainment sector, Nodwin will add a strong and robust IP that is scalable both in India and Internationally.
For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in our mind, I am very excited to join hands with Nodwin Gaming in taking the next step and building upon this goal together.
Jatin Varma, founder of Comic Con India said,
For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in our mind, I am very excited to join hands with Nodwin Gaming in taking the next step and building upon this goal together.
Havas has announced the acquisition of a majority stake in PR Pundit, the PR consultancy firm. With this strategic action, Havas Red, Havas’ global PR network, makes its debut in the thriving Indian market. The company will be rebranded as PR Pundit Havas Red upon closing. With 25 years of experience, PR Pundit is a company that specializes in corporate communications and brand positioning. With three offices in Delhi NCR, Mumbai, and Bengaluru, the company employs 160 PR professionals.
Havas’ Acquisition of PR Pundit
For a while now, PR Pundit has been an important Havas affiliate in India. With this acquisition, Havas strengthens its partnership and expands its capacities to provide public relations services in India as part of its array of media, creative, and healthcare offerings. Simultaneously, the network’s global clientele gains significant new geographic reach and expertise from Havas Red’s ongoing international expansion. With the launch of Havas Red South Africa earlier this year, the company’s foray into the Indian market represents its second addition for 2023.
PR Pundit’s founder and managing director, Archana Jain, will continue to oversee PR Pundit Havas Red. She will report to James Wright, CEO of Havas Red, and Rana Barua, Group CEO of Havas India.
Here’s what they said
Yannick Bolloré, Chairman and Global CEO, Havas said
We are thrilled to welcome PR Pundit to the Havas family. The synergies between PR Pundit’s expertise, Havas India’s clients, and the global PR clients of Havas Red are exceptionally strong, setting the stage for many meaningful collaborations. With the backing of Vivendi and their extensive entertainment assets in India, the expansion into PR, communications and social media is a strategic move that aligns perfectly with the evolving landscape of the market and industry.
Archana Jain, Founder and Managing of PR Pundit added,
Joining Havas will enable us to enrich our services and geographic reach for the benefit of our clients. We are excited to lend our expertise and entrepreneurial drive as well as share our local PR understanding with Havas Red in our common goal of undertaking benchmarking work and fostering long term partnerships, with our people and clients. Our relationship is based on shared values to elevate service capabilities, open doors to new opportunities and embrace best practices from around the world.
Rana Barua, Group CEO of Havas India, commented,
This acquisition once again reinforces our commitment of delivering comprehensive and impactful solutions to our clients. In our endeavour to offer integrated end-to-end communication solutions, we identified that the PR function was a missing piece. This acquisition brings together, two extremely powerful entities, Havas Red which has presence across 15 global markets with unmatched influence and reach, and PR Pundit, one of the most respected PR agencies in India with unparalleled brand reputation and a robust clientele. I welcome team PR Pundit to the Havas India family. Together with Havas Red, I look forward to the beginning of an exciting journey.
MediaRadar, a platform for sales enablement and advertising intelligence, announced the acquisition of Vivvix, the North American Advertising Intelligence Unit of Kantar Group for an undisclosed sum. Vivvix provides competitive ad intelligence through digital and traditional media channels by utilizing artificial intelligence. These consist of social media, streaming services, and mobile apps. With this ground-breaking agreement, MediaRadar will be positioned as the go-to source for advertising data and insights, catering to the needs of media owners, agencies, and brands throughout the whole industry ecosystem.
AI-powered Advertising Intelligence Platforms
Artificial intelligence powers MediaRadar and Vivvix, to track and gather advertising insights across media and channels. AI also powers them for prospecting and sales recommendations. Transparency, trust, and high-quality data are more important than ever as the advertising sector develops and innovates with new formats for both established and emerging platforms. These insights guide decisions in ad sales, brand strategy, and media planning and buying, helping media companies, brands, and agencies navigate increasing fragmentation and complexity.
MediaRadar’s acquisition of Vivvix, the advertising intelligence unit
MediaRadar’s data capabilities are strengthened with the acquisition of Vivvix, along with its complementary channel coverage. This is by adding new categories like local TV, radio, and search along with expanding into Out-of-Home (OOH) advertising and the Canadian market. When MediaRadar is combined into a single platform, it will provide the most extensive near-real-time ad intelligence out there. Decisions about ad sales, brand strategy, and media planning and buying can be based on the data gathered by Vivvix and MediaRadar.
Extensive client database
MediaRadar’s vast database tracks over $200 billion in annual media spend across over 4 million brands. It is relied upon by over 20,000 clients. A media budget of over $250 billion is covered by Vivvix’s advertising intelligence footprint. Brands, agencies, and media sellers rely on these platforms collectively to deliver ad intelligence that is essential to their primary business strategy. After the deal, MediaRadar will have more money and resources to invest in cutting-edge tech and data. It will assist it in developing next-generation solutions that maximize value for its clients. Furthermore, it will solidify its leadership in the analytics space.
Here’s what they said
Todd Krizelman, CEO and co-founder of MediaRadar said,
By combining Vivvix and MediaRadar, we offer a complete view of the entire advertising industry. Together, our unparalleled market intelligence will enable strategic decision-making, allowing media sellers, brands, and agencies to navigate the dynamic advertising landscape with even greater confidence.
Andrew Feigenson, CEO of Vivvix added,
When we launched Vivvix earlier this year, our mission was to become the world’s leading ad intelligence company. In joining forces with MediaRadar, we take a significant step toward that goal. We are incredibly excited to work with Todd and his team to achieve a common vision and deliver a complete view of the market to media companies, marketers, and agencies.
Chris Jansen, Chief Executive, Kantar stated,
Today’s transaction brings Vivvix together with a highly complementary business that goes a long way to delivering on their vision of building the most future-facing advertising intelligence business in North America. We’re excited about the possibilities that emerge from the combined entity and wish the Vivvix and MediaRadar team well on the next phase of their growth journey.
The ad tech company Infillion was identified as the top contender to acquire the recently insolvent DSP MediaMath during bankruptcy proceedings on August 23. Given that the company was originally valued at $1 billion, the company’s winning bid of $22 million was a great deal. According to Digiday, MediaMath CEO Joe Zawadski’s investment fund company, AperiumVentures, provided advice on the acquisition. Additionally, he sparked the idea that the ad tech expert would try to get back in touch with the business he created more than 15 years ago. According to court records, Genius Sports, a London-based provider of sports data and video streaming, placed the second-highest bid for MediaMath assets for $20.55 million.
On June 30, MediaMath submitted a Chapter 11 petition. The DSP service provider has a new home thanks to Infillion’s acquisition. The Delaware bankruptcy court accepted Infillion’s cash offer for MediaMath’s DSP and DMP holdings on August 23. One of the ad tech stories this year has also been concluded by a bankruptcy filing. Dozens of businesses have lost money as a result of one of the most well-known names in ad tech’s Chapter 11 procedures. Some others even speculate about what it indicates for the most vibrant industry in digital media.
MediaMath has 16 years of experience in the ad tech sector. However, it has recently had trouble keeping up with rivals like Google, Amazon, and The Trade Desk. It was unable to collect the required cash despite seeking more money a while ago this year and almost concluding a $70 million deal with a possible acquirer. The upshot was that the business filed for bankruptcy, which unfortunately resulted in the loss of nearly 300 employees.
MediaMath was one of the early pioneers in ad tech. It is usually regarded as the very first DSP in the sector. Thus, MediaMath’s surprising Chapter 11 filing roughly two months ago is what prompted the sale. This dramatic tale comes to a close with Infillion’s acquisition as the company’s former customers left. For the latter, the Infillion-MediaMath merger represents a remarkable fall from grace. Infillion will provide a modest 2% of MediaMath’s peak value.
Infillion’s Acquisition of MediaMath
It makes sense for Infillion to include MediaMath in its ad tech portfolio. The location data business Gimbal and the video ad tech platform TrueX gave birth to the video advertising platform. It focuses on the interactive advertising units that Gimbal purchased from Disney. A year ago, Gimbal and TrueX changed their names to become Infillion.
The 15-year-old demand-side platform that MediaMath brings to the story will enable Infillion’s programmatic ad tech stack to take shape. However, the business revealed in its bankruptcy filings that it owed over $125 million in trade obligations to a number of corporations. They include Google, Microsoft’s Xandr, and ad tech firms including PubMatic and Magnite. What will transpire to these outstanding invoices is still up for discussion as Infillion might be interested in rekindling those ties. Infillion is yet to confirm the accountability for MediaMath’s outstanding debt.
Infillion’s founder and executive chairman, Rob Emrich, stated that the company anticipates MediaMath would be in a good spot to expand under new management. In the course of the auction on Wednesday, Emrich expressed his opinion that over the following five years, the MediaMath tech stack will produce $1 billion in inventory traffic, data fees, and hosting contracts.
Our current financial model calls for an additional $30 million There will be operating losses in the next three years as we bring this business back. Plus an additional $40 million In working capital.
In any case, Infillion seems certain that it can resurrect MediaMath’s advertising technology and start a new chapter. Whether the acquisition turns out to be profitable or a major oversight on Infillion’s part, only time will tell.
A strategic partnership between DoubleVerify (DV), the market leader in multimedia analysis and data collection, and Scibids Technology SAS has been disclosed. In terms of optimizing digital campaigns using AI, the latter is at the forefront. The $125 million purchase agreement comprises both cash and stock trades. The acquisition is expected to be finalized in quarter three of 2023. In the world of advertising, DV has a solid reputation for being open and reliable. The collaboration may be viewed as a union of two top platforms. Each gives marketers reliable information and AI to help them make the most of their digital endeavors.
Mark Zagorski, CEO of DoubleVerify stated in the announcement,
The acquisition of Scibids is a decisive step in our journey to power superior campaign outcomes that started with developing and delivering the industry standard in media quality insights and has evolved into putting that data t work for advertisers.
He further commented,
The combination marries DV’s proprietary data with Scibids’ AI-powered optimization technology, letting us empower brands with unparalleled insights and control over their advertising performance
An AI-powered acquisition
With Scibids’ AI technology and real-time algorithm optimization, the DV-Scibids alliance aims to bring together the most trustworthy media and performance metrics from the former. The agreement will be the first to give DV the ability to conduct an entire media transaction, from inception through analysis. Additionally, it will give marketers immediate marketing results without third-party cookies. DV’s move from performance proxies to KPIs for advertising will produce real-world business results in line with advertisers’ objectives.
Remi Lemonnier, CEO & Co-Founder of Scibids remarked in his statement,
This partnership will amplify the capabilities of our customizable AI technology and expand its impact across the digital advertising ecosystem to strengthen the open web.
Scibids Technology SAS is a pioneer in the use of AI to drive marketing strategies. They are well-known for developing artificial intelligence technology that supports marketers’ decision-making for programmatic digital ad campaigns by automating and improving it. The company boasts high profile clients like Allianz, Dell and Spotify.
What’s in it for DoubleVerify?
The buyout offers DV several advantages. All targeted programmatic ad campaigns will benefit from multimodal dynamic efficiency measurement. There will also be benefits in the area of optimization. According to the agreement, DV will incorporate Scibids’ AI technology into its media quality at the point of impression, followed by performance indicators Automating bidding among top DSPs will also simplify manual processes and foster cost savings for DV.
DV had previously revealed an intriguing, workable agreement with Scibids for the launch of the Algorithmic Optimizer. This innovative technology would leverage tailored artificial intelligence to improve attention metrics. During Fortune 500 campaign tests, the tool reportedly increased attention levels by 63% and impressions by 95%.
In this ever-evolving landscape, companies rush to harness the power of AI and embrace innovation. The industry is reaffirming safe practices despite AI dominance. All eyes are turning to this partnership to see how it elevates the advertising landscape.
Havas Media, a Paris-based agency network, acquired a majority stake of 51% in UK’s Uncommon Creative Studio. Havas is a relatively small agency compared to the big six agencies with respect to revenue and workforce. Hence, this acquisition is a breakthrough for them. Founded in 2017, Uncommon Creative Studio is the UK’s most award-winning and rapidly growing independent creative agency. They have already garnered the attention of some of the world’s largest and most prominent companies.
Massive news. So proud to welcome one of the best independent creative agency in the world @uncommon_LDN to the Havas family!@donna_murphy @nilsleonard @LucyJameson_ @nattergraeme https://t.co/1NnwElX90R
— Yannick Bolloré (@YannickBollore) July 12, 2023
As part of its commitment to foster creativity, Havas signed this deal to invest in significant brands. The deal also reflects their business methodology and values future potential at £80-120 million considering Uncommon Studio’s growth projections. Uncommon will preserve its brand, vision, and freedom in decision-making across its clients, partners, internal teams, and productive turnout. Management will retain a 49% material stake in the business, maintaining entrepreneurial zest. As a result, it will allow them to expand the brand globally, and share best practices across Havas and its parent company, Vivendi.
Yannick Bolloré, Chairman and CEO, Havas stated,
Uncommon will bring new energy, creativity, and audiences into Havas’ already leading-edge creative network, igniting, inspiring, and supporting every aspect of creativity.
He also added,
Uncommon have created a new space and energy in the industry. They are a once-in-a-decade company and having them join the Havas family is an exciting prospect.
Uncommon previously rejected deals proposed by other agencies. Nils Leonard, one of the three founders of Uncommon said,
This deal is different: it relies on freedom of choice, the ability to break down barriers, and the removal of dependency. We can create the industry we wish we worked in.
International Exposure for Uncommon Creative Studio
The London-based creative agency boasts a high clientele in the UK including ITV and British Airways. The agency has recently received the prestigious Cannes Lions Grand Prix for “A British Original Billboard campaign” designed for British Airways. They have twice been named UK’s Creative Agency of the Year and International Agency of the Year by Ad Age.
Additionally, Uncommon hosts an extensive list of clientele in the U.S. This was attainable because of their diversified and global mentality, reputation for creativity, and distinctive studio style. As a result, the Uncommon-Havas deal will boost the former’s international expansion plans.
Uncommon Creative Studios will also enjoy collaborating with Havas’ strong network and top-notch entertainment brands. They will also be in a position to work with leading companies like Universal Music Group, Gameloft, and Canal+ with this partnership
The Advertising Industry Scenario
Most agencies are scrambling to propose contracts with data and technology-focused companies. The ad industry is determined to leverage artificial intelligence to reduce expenses and increase momentum. Forrester reports that by 2030, ad agencies will automate 7.5% of their jobs.
Amidst all this, Havas has placed importance on the human creativity aspect of the industry. As such, this acquisition comes in as a ray of hope for creative agencies. Uncommon Creative Studios has 169 employees working under them. The company also does not plan to lay off anyone in the near future or because of the deal. Instead, they plan to hire qualified staff for their U.S. office. Uncommon is estimated to be worth £156 million by 2030 with this deal. As a result, this deal would make Uncommon one of the most successful creative agency start-ups in the UK.
Criteo has acquired Brandcrush, an Australia-based company whose platform enables the buying and selling of omnichannel retail media, including offline media channels.
The acquisition allows retailers to manage their entire media inventory across both e-commerce and physical retail. It also enables brands and agencies to easily discover and purchase omnichannel media from leading retailers. The Australian ad startup provides a 360° media asset management and activation, ranging from in-store activations such as digital screens, point-of-sale displays, and sampling to out-of-store activations like inbox sampling and inserts, and online activations such as digital circulars, email, and social media. With Criteo’s media solutions, including sponsorships, on-site display, and off-site ads, advertisers can now scale their campaigns across the entire omnichannel retail media landscape.
With the new partnership, brands will have the convenience of a single sign-on to oversee and assess both their online campaigns through Criteo and in-store activations through Brandcrush. Criteo’s recent acquisition has allowed the company to increase its presence and improve its capabilities in the fast-growing Asia-Pacific retail media market.
Interesting Read: How Will Partnership With Criteo Benefit Flipkart’s AdTech Business?
The retail media industry offers a significant revenue opportunity for retailers but outdated methods such as emails and spreadsheets are still in use for managing media inventory and purchasing. Retailers can now use Brandcrush’s specialized solution to streamline the management of media orders, inventory, and suppliers across all media channels. This enables retailers to increase revenue by allowing self-service discovery and booking of shopper media without adding overhead costs.
As reported by Adexchanger, Criteo and Brandcrush have collaborated on some pitches, and although marketing efforts like free samples and in-store displays are not purchased in CPMs, they can still be measured. Brandcrush uses control groups to attribute incremental new sales, and Criteo is increasingly crediting itself for driving online advertising to in-store activity. Although programmatic campaigns and in-store marketing cannot be purchased in the same way, they can still be measured together. In-store activations with brands and retailers are continuously evolving.
Sherry Smith, General Manager of Global Enterprise at Criteo said,
As marketers continue to invest in retail media, offline is emerging as the new frontier – and brands and agencies must be able to effectively plan, execute, and measure their campaigns in an integrated way.
Brandcrush directly addresses the current market need for consolidated offline and online advertising management, and our combined solutions will make omnichannel retail media strategies a reality, empowering retailers to own their entire retail media ecosystems.
Teresa Aprile, Co-Founder, and CEO at Brandcrush,
By combining forces, we’re bringing together our platform with Criteo’s best-in-class retail media technology to create the most effective monetization platform for retailers.
With Criteo’s retail media client footprint of 175+ retailers and nearly 1,800 brands – unlike any others in the industry – we’re also tapping into their unique scale to truly harness the power of omnichannel across the entire advertising ecosystem.
Interesting Read: The Adtech Landscape in 2023
Noon, a leading e-commerce company based in Riyadh, has successfully acquired online fashion retailer Namshi. The acquisition is now in effect, immediately expanding Noon’s offerings in products and services. The online marketplace made the announcement on Monday, signaling its continued growth and expansion in the industry.
Noon’s logistics, fulfillment networks, fleet, and in-house e-commerce experts will be available to Namshi, which will remain a separate entity. The company statement said that the e-commerce platform will continue to support Namshi’s growth as an independent entity within the company.
The fashion platform, which has been serving customers in the UAE, Saudi Arabia, and other countries since 2011, has more than 1,200 brands. Namshi’s acquisition will broaden Noon’s offering of products and services to include more fashion and lifestyle brands for consumers throughout the region.
Hisham Zarka, chief technology officer of the Noon Group and co-founder of Namshi said,
“We know that both Noon and Namshi have a long way to go, but that just means that the opportunity ahead remains immense.”
“This merger will enable Namshi to make deep and long-term investments and in the months and years to come, our customers and partners can look forward to better assortment, pricing and service as these investments are realized.”
Dhruv Paul, group general counsel of the Noon Group said,
“This acquisition is a great opportunity for both Noon and Namshi. It allows us to reach out to new audiences while offering them unique products.”
As of last August, Noon had an agreement with Emaar Properties to purchase Emaar Malls in Namshi for AED 1.23 billion ($334.9 million). The completion of the acquisition comes after Emaar Properties shareholders approved the sale of Namshi to Noon.
Dubai Chamber of Commerce forecasts UAE’s eCommerce market to reach $9.2 billion by 2026, a 92% increase from 2021. UAE’s eCommerce Sector experiencing significant Growth due to rising consumer demand for online shopping and strong investment in infrastructure
MMP World Wide (MMPWW) has announced its acquisition by LifeOnScreen in a 110 million Dhs deal that will see the programmatic pioneer integrated into state-of-the-art technology for screens and Digital Out-Of-Home (DOOH) solutions.
The deal will allow LifeOnScreen to advance further into the digital and tech space, consolidating the full MMPWW portfolio and aiding expansion into new markets. A key draw for the acquisition, MMPWW’s strong foothold across the EMEA and APAC will strengthen LifeOnScreen’s presence in these countries and broaden their current offering.
Alexandre Hawari, CEO of Akama Holding said
Today we announce the successful sale of our entire stake in MMPWW. The sale yielded a 22x return on Akama’s initial investment, resulting in a significant return for its investors.
It’s been an incredible journey to get to this stage and the time is right for a transition. The shared values and ambitions of both companies align perfectly and although it’s bittersweet to say goodbye, I know that I’m leaving the team in excellent hands. Congratulations to everyone – I wish them all the best with this new phase.
Echoing the sentiment, MMPWW CEO, Ayman Haydar commented
This is a very exciting and emotional time for the whole MMPWW family as we look forward to the next company chapter. As we say goodbye to the group I don’t see this as the end, but a new starting point for the business to build on its recent successes and create new and long-lasting relationships.
MMPWW has dominated the programmatic space since the company’s inception in 2016, continuously evolving its proposition to lead the ad tech agenda in the region and bring new technologies to the market.
Speaking about the acquisition process, Ayman disclosed:
The transition has been smooth and I know I speak for all of my team when I say we welcome the opportunity to advance to the next level with the full backing of LifeOnScreen.
We’re delighted that our new owner can see the value in what MMP has built and this acquisition is a testament to everyone’s hard work. Together we are ready to create a new future, continuing to provide impactful solutions for all our clients.
Saeed Alshamsi, Managing Partner at LifeOnScreen added
We are very happy to have added the region’s leading programmatic provider to our group. Their strong performance and innovation within the space fits perfectly with what we want to accomplish locally and serves as a firm foundation for international growth. We share the same vision and goals and together the sky’s the limit to what we can achieve.
Further announcements on the new company structure will be made in due course.