MiQ announced the acquisition of French media governance and data quality company, Grasp. This marks MiQ’s third significant financial investment to date, as part of its long-standing commitment to making the digital advertising ecosystem and experience better for all advertisers.
While the rapid growth of digital media channels has unlocked incredible opportunities for advertisers, the level of complexities they navigate every day have simultaneously increased. As data shows, there is an average of $45,000 in overspend for every $1 million in media budget – often from waste, human error, or fraud – and 80% of marketing data is broken or lost due to manual processes.
Grasp’s SaaS suite is the world’s first solution to address these pressing challenges head on with a preventive approach. Its quality assurance and compliance products prevent non-compliances and enforce governance frameworks before campaign launch, eliminating risky manual errors and saving advertisers millions in potential lost revenue due to overspend or inaccurate data. Now a multi-million dollar, profitable business, the company’s innovation has seen explosive growth in the past several years, with more than 8,000 users worldwide across leading brands, such as L’Oréal and PepsiCo, and media agencies, such as Havas Media Group and WPP.
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As a globally recognized programmatic managed services partner, MiQ has always invested in the development of proprietary technology solutions that optimize the media buying experience on behalf of its clients. In 2022, MiQ reinforced this promise by acquiring UK-based AirGrid, ensuring clients have access to future-proof targeting and activation capabilities to align with the ever-changing privacy regulations and the demise of third-party cookies.
“Our acquisition of Grasp is another exciting step in the evolution of our company as we look to grow, lead the digital advertising industry, and help advertisers forge forward in their programmatic journeys,” said Gurman Hundal, MiQ’s co-founder and CEO. “Grasp’s technology strategically adds the first SaaS platform to our offering and – as we double down on investments that are future-facing and focused on advancing the current programmatic experience – will prove instrumental in strengthening media buying for brands and agencies across the globe.”
Grasp will introduce an exciting new route to partner with MiQ across all markets. The company will continue to operate as an independent business unit under MiQ’s ownership, and will retain its current brand. There will be no change to either company’s organizational structure.
“Grasp consistently advocates for and helps bring operational excellence in digital advertising by empowering all in the media buying process and ecosystem to do the right thing from the very start,” said Pierre-Lou Dominjon, co-founder and CEO of Grasp. “Under the MiQ umbrella, we’ll have even more opportunity to bring strategic advantage, order, and efficiency to media buying processes and advance our shared mission to fuel operational excellence in new and exciting ways.”
SOURCE: Businesswire