Essence, a digital marketing agency based in London and New York with clients like Google and eBay, is beefing up its mobile assets and expanding its presence in the U.S.: it has acquired Point Reach, a West Coast mobile advertising agency that also works with eBay, as well as Walgreens, Disney, AT&T and other mass-market brands. Financial terms of the deal were not disclosed in a statement announcing the deal.
The acquisition signals more consolidation in the mobile advertising market and another sign of how bigger players in the wider digital ads space are looking to enhance their offerings in order to provide a more comprehensive service to clients as a way of increasing their margins. It comes on the same day that mobile advertising network InMobi announced the acquisition of Overlay Networks to improve advertising personalization.
Essence has been on a buying spree of sorts. Other acquisitions in the past for Essence have included social media agency Punktilio, founded by serial entrepreneur Michael Birch. In September 2012, it bought Black Bag Advertising, an agency focused on the automotive, retail, banking, insurance and packaged goods industries.
Essence says that its been growing its mobile business out for the last 18 months, and Point Reach, which has been working in mobile ads since 2009, will add more campaign strategy, creative development, media planning, and measurement support experience to that division.
All employees are joining Essence as part of the deal, but it is rebranding to Essence. “The entire team is thrilled to be joining Essence,” said Andrew Nevils, MD of Point Reach in a statement. “With similar capabilities, cultures, and clients, we’re perfectly aligned for partnership. We’re excited to lend our expertise to further strengthen Essence’s mobile capability in the U.S., and by extension, bolster our digital and social offering to better serve eBay and all of our clients.”
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Essence Extends Mobile Practice With Point Reach Acquisition
Expansion Continues as Mobile Agency Joins Fast Growing Global Digital GroupNEW YORK, NY–(Marketwire – Jan 8, 2013) – Essence Digital today announced the acquisition of award-winning mobile advertising agency Point Reach. The transaction marks the latest milestone in the rapid expansion of Essence’s mobile practice over the last 18 months. The union is a strategic win on all fronts; the companies share strong analytical foundations, a full-service approach to digital marketing, and a major client in eBay.
“Point Reach are genuine mobile pioneers. Their award-winning work has redefined best-in-class for this evolving medium,” said Richard Mooney, Partner & Managing Director of North America for Essence Digital. “Their unmatched capabilities in mobile-related strategy, media, and creative enrich our North American practice beyond measure. I’m incredibly excited to be welcoming them into the Essence Digital family.”
Point Reach, with staff in Seattle and San Francisco, is known for mobile campaigns that continually push the boundaries of the medium. Alongside eBay, the agency counts such top-tier clients as Walgreens, Disney, AT&T, and StubHub among its roster. Point Reach has quickly established itself as a leading player in mobile; by joining Essence, the agency broadens its capabilities, unlocks global reach, and gains access to Essence’s proprietary technology stack and data integration capabilities, notably including the Olive campaign management suite.
“The entire team is thrilled to be joining Essence,” said Andrew Nevils, Managing Director of Point Reach, which will now assume the Essence name. “With similar capabilities, cultures, and clients, we’re perfectly aligned for partnership. We’re excited to lend our expertise to further strengthen Essence’s mobile capability in the U.S., and by extension, bolster our digital and social offering to better serve eBay and all of our clients.”
The asset acquisition of Point Reach follows closely on the heels of Essence Digital’s acquisition of Black Bag Advertising in San Francisco, which was announced in September 2012. With an existing client roster that includes such leading brands as eBay, Google, and Expedia, Essence looks to continue its global expansion to offer best-in-class digital marketing on a worldwide scale.
Essence was advised on the transaction by GP Bullhound (lead financial adviser), SNR Dentons (legal), and Deloitte (transaction services).
About Essence Digital
Essence Digital is a digital agency based in London, New York, San Francisco, and Seattle that delivers strategy, media, creative, and social solutions globally. They are the digital agency of record for sophisticated clients such as eBay, Google, and Expedia, clients that are at the leading edge of the digital marketplace. It’s their unique challenges that inspire Essence Digital to go beyond traditional marketing approaches, mixing cutting-edge technology (often their own) with shrewd business brains and inventive creativity.
About Point Reach
With more than 30 industry awards and a client list including eBay, Walgreens, StubHub, and Disney, Point Reach is known for developing breakthrough mobile advertising campaigns. Headquartered in Seattle and focused exclusively on mobile since 2009, the agency’s goal is simple: to mobilize leading brands through innovative marketing. Point Reach provides clients with a full-service mobile advertising solution spanning campaign strategy, creative development, media planning, and measurement support.