SAN FRANCISCO, April 26, 2019 (GLOBE NEWSWIRE) -- MightyHive, the leading media consultancy, today announced it has acquired ProgMedia, a Brazilian-based programmatic solutions consulting firm. Under the terms of the agreement, ProgMedia becomes a wholly-owned subsidiary of MightyHive. The acquisition expands MightyHive’s operations into Latin America and is expected to increase ProgMedia’s customer base and revenue in Brazil and Latin America by more than 200 percent over the next 12 months.
MightyHive is one of the largest and fastest-growing programmatic buyers in the world and now operates throughout North America, Europe, Asia-Pacific and Latin America. With this acquisition, MightyHive enters the Latin American ad market, the fourth-largest in the world, accounting for 6.1 percent of worldwide media ad spending in 2018, with Brazil owning the largest spend in the market.
“MightyHive’s growth by acquisition this week is consistent with S4 Capital’s strategy of broadening our capabilities in first-party data, content and media around the world,” said Pete Kim, MightyHive CEO. “ProgMedia is the strongest programmatic company in the region and will propel our Latin American business forward so we can capitalize on the clear market opportunity here. We expect our success will lay the groundwork for further acquisitions in 2019 and 2020.”
The acquisition will allow current customers of ProgMedia to draw on MightyHive’s international strength and partnerships, as well as allow global enterprises to extend their in-housing or programmatic initiatives with MightyHive to Latin America. ProgMedia plans to rebrand itself as MightyHive in the coming year as it broadens its service offering and technology partners. Bruno Rebouças, CEO and Founder, and Natália Fernandes, COO and Partner, will remain as the leaders of the ProgMedia team and will report to Emily Del Greco, President of the Americas for MightyHive.
“Over the last several months, we have had a surge of demand for Latin America-based support and consulting from our multi-national clients. I am delighted to work with Bruno, Natália, and team to scale MightyHive's offering into this critically important region,” said Emily Del Greco, President of the Americas, MightyHive.
“We feel strongly that this move is the right one for ProgMedia’s clients and team,” said Bruno Rebouças, CEO and founder of ProgMedia. “MightyHive’s culture and values reflect ProgMedia’s high standards for client service and employee happiness. Moreover, we share a vision to help companies master the technologies required to digitally transform themselves for success. We look forward to working with MightyHive to help marketers and agencies in Latin America fully realize the potential of advanced marketing and advertising technologies.”
MightyHive is a new breed of media consultancy that partners with global brands and agencies seeking transformative marketing results in a time of massive disruption and opportunity. Recognized as the global leader in advanced marketing and advertising technologies, MightyHive provides consulting and services in the areas of media operations and training, data strategy and analytics. The company is headquartered in San Francisco, with offices in Auckland, London, Melbourne, New York, Singapore, Stockholm, Sydney, Tokyo, Toronto, Vancouver, and Montreal. In 2018, MightyHive merged with S4 Capital plc (SFOR.L), a new age/new era digital advertising and marketing services company established by Sir Martin Sorrell.
ProgMedia is a São Paulo, Brazil-based programmatic consultancy founded in 2017. The company is led by two former Google employees, Bruno Rebouças and Natália Fernandes. The company provides consultancy, campaign operations, and training capabilities for clients in Latin America.
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