Marketing intelligence agency MiQ has announced its acquisition of Grasp, a French media governance and data quality company, in its third significant financial investment.
The move is in alignment with MiQ’s commitment to improve the digital advertising ecosystem. The surge in digital media opportunities has increased complexity, resulting in an average overspending of $45,000 for every $1 million in media budget.
Grasp’s SaaS suite aims to tackle these challenges preemptively by preventing non-compliance and enforcing governance frameworks before campaign launches. With over 8,000 users globally, including brands like L’Oréal and PepsiCo, Grasp’s innovation focuses on eliminating manual errors and saving advertisers potential revenue losses.
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“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, co-founder and CEO, MiQ. “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.”
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 organisational 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. 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,” Pierre-Lou Dominjon, co-founder and CEO, Grasp, said.
“Grasp’s quality assurance SaaS suite identifies errors in the campaign setup before the campaign begins, thus eliminating risk and saving advertisers millions in potential lost revenue due to overspend or inaccurate data. While the operational and process issues Grasp solves aren’t trendy, they’re the backbone of every dollar that ever gets invested, transacted, and spent.” said Siddharth Dabhade, Managing Director and global board member at MiQ.
SOURCE: afaqs
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