Dentsu Aegis Network Acquires Marketing Agency M8, Expands Multicultural Offering
What: Dentsu Aegis has announced the acquisition of Miami-based marketing and advertising agency M8.
Why it matters: With this acquisition, Dentsu Aegis expands iProspect's offering in the multicultural marketing space.
Dentsu Aegis Network has announced its latest acquisition: though financial terms were not disclosed, the firm will acquire a 100% stake in M8, a digital marketing and business performance agency mainly focused on Hispanic markets founded in 2001. M8 will be aligned with Dentsu Aegis Network's iProspect, one of the group's global brands with strengths in the digital domain. After the acquisition, the combined entities will be rebranded "M8, an iProspect Company." In this way, iProspect will expand its offering in the multicultural marketing space, and M8 will become a launching pad for U.S.-based clients entering Latin America while serving U.S. multicultural and Hispanic audiences.
“For Dentsu Aegis Network, adding M8 to the iProspect family vastly expands our performance marketing capabilities and expert talent to reach multicultural audiences in the US, as well as Latin America,” said Dentsu Aegis Network Latin America CEO Claudia Colaferro.
“Joining Dentsu Aegis Network and iProspect ultimately adds tremendous value to our clients and team, allowing us to stay nimble and creative, maintaining our entrepreneurial spirit while adding scale, expertise, and a global footprint,” stated M8 founder and CEO John Santiago, who will remain as the agency's chief executive post-acquisition.
“I am delighted to welcome M8 to iProspect. For some time, we have wanted to have a presence in Miami, serving Latin America and the U.S. Hispanic market. I believe we have found the perfect team, who share our vision and passion for great creative marketing and digital performance solution,” added iProspect, Latin America president Philippe Seignol.
About a year and a half ago, Dentsu Aegis Network acquired Findr Group, owner of Gravity Media. At the time, a Dentsu Aegis executive told Portada that in order "to be competitive in the US market, it’s critical to have a dedicated multicultural media and creative service offering that can be adaptive and evolve with the changing US demographics and consumer habits led by digital." With the acquisition of M8, the firm is complementing its existing offerings in the areas of multicultural strategy, creative, social and digital media.
[Featured Image: L-R: Carlos Cesta, Masako Nagle, Lizette Du Pond, Nick Brien, Claudia Colaferro, John Santiago, Sergio Barrientos, Dave Wein, Philippe Seignol]