Creative production agency Tag has acquired MoniMedia, a digital commerce agency.
This is Tag's fourth acquisition since 2019 and, according to the company, further strengthens its digital and ecommerce capabilities, enabling it to drive more connected brand and customer experiences across channels at speed and scale.
The company said the deal brings together agencies with adjacent capabilities. Tag offers marketing execution services, from content creation to brand activation. Its clients includes Coca-Cola, Estée Lauder, GSK and Heineken. MoniMedia focuses on delivering ecommerce and has strategy and UX design expertise.
The terms of the deal weren't disclosed.
Toby Codrington, Tag’s APAC CEO, told Campaign Asia-Pacific that the deal helps the company build a digital consulting layer into Tag's capabilities. "We're a production company [and] our assets would sit on ecommerce channels," he explains. "We've got strength and depth in this space, but in terms of doing the UX and design, the strategic interaction with customers...this deal helps us globally."
Tag’s previous acquisitions under Advent International’s ownership were Taylor James, a digital production house, THP, an on-demand digital and social-media content agency, and Popcorn Global, a shopper activation firm.
"Asia Pacific is continuing it growth journey, " Codrington said. "We have doubled our business since 2018 and we expect to grow by around 30% this year and the next." Since 2017, he adds. Tag has laid down its strategy to drive growth through market expansion and "if we didn't have capabilities we would buy it."
As part of this strategy, the company has identified some key growth opportunities. “Customer experience has become increasingly focused around digital touchpoints, which has been further amplified by the impact of Covid-19," said David Kassler, group CEO at Tag. "Having navigated our clients through recent digital transformations and recognising the impact of the changing retail landscape on their businesses, we are excited to bolster our ecommerce services by welcoming MoniMedia to Tag."
David François, founder and managing director at MoniMedia, said by selling to Tag, Monimedia would complement existing capabilities with new service offerings. "Our team is excited to embark on this journey along with Tag to fuel innovation and drive agility, cost efficiency and performance at scale across all channels," he said.