What: Dentsu Aegis Network has acquired Argentina-based agency Global Mind to expand the iProspect operation.
Why it matters: This is the third Latin American acquisition this year after the Japanese giant acquired M8 and White Label in April. Global Mind will triple the headcount of iProspect and strengthen Dentsu Aegis’ pan-regional reach.
Global Mind, the largest independent agency headquartered in Argentina, has been acquired by Dentsu Aegis Network. Global Mind was founded in 2001 to offer online and offline creative and production, media planning and buying, business intelligence, digital paid search, display, social media management, SEO, programmatic and data & analytics services.
Global Mind will triple the headcount of iProspect in Argentina, which already includes M8 and White Label, both acquired earlier this year. This action will strengthen Dentsu Aegis Network’s pan-regional reach, allowing for a broader service to Latin American clients.
“As a key growth driver for the Americas, it’s no coincidence we’ve made three acquisitions in Latin America this year alone. Global Mind’s size, capabilities and leadership team will be critical in scaling Argentina as an important regional hub, allowing us to expand our best-in-class services and markedly accelerate our growth across the region,” said Julio Castellanos, CEO, Latin America, Dentsu Aegis Network, in a statement.
Global Mind’s co-Founder and CEO Marcelo Montefiore will become CEO of iProspect Argentina, reporting into both Juan Pedro McCormack, CEO, DAN Argentina and Philippe Seignol, President of iProspect, Latin America.
“Joining Dentsu Aegis Network and iProspect is a wonderful opportunity to scale and ultimately be able to offer more diversified services to our clients through a strong global network,” said Montefiore. “At Global Mind, we are 200% focused on delivering true business results, which is a passion we share with Dentsu Aegis and what made us confident that we had found the right partner,” added Andy Berman, President, Global Mind USA.
“The pace and increasing complexity of the digital economy in Argentina and across Latin America highlighted the need for us to scale our capabilities in business performance marketing,” said Seignol. “Global Mind is a fantastic addition to iProspect and together we will deliver data-driven and people-focused marketing strategies that grow businesses.”
Financial terms of the transaction were not disclosed.
[Featured Image: Courtesy of iProspect. L to R: Andy Berman, President, Global Mind USA; Juan Pedro McCormack, CEO, DAN Argentina; Gabriela Trench, VP, Global Mind USA; Marcelo Montefiore, CEO, Global Mind; Philippe Seignol, President, iProspect LatAm]