- Independent agency Huge has acquired creative studio Both&Yes, whose founders have been involved with constructing digital and AI experiences for Google and YouTube, per a press release. Terms weren’t disclosed.
- Both&Yes co-founders, Ken Frederick and Michael Lin, will grow to be executive creative directors at Huge, bringing years of experience in brand strategy, design and technology.
- IPG sold Huge last yr to non-public equity firm AEA Investors and was merged with Hero Digital earlier this yr because it reshapes itself into an agency that creates AI-powered experiences for brands.
Both&Yes has worked with brands reminiscent of Robinhood and Harry’s on creative innovation while its co-founders bring extensive experience in merging design and technology. Huge’s acquisition of Both&Yes continues a trend of agencies preparing for a world by which generative AI-powered experiences and knowledge are expected to play a dominant role.
“This acquisition underscores Huge’s commitment to leading the industry through creativity and technology,” said Jim Coleman, executive chairman of Huge, in an announcement.
The deal also reflects a broader reshuffling within the agency space as Omnicom gets closer to its proposed $13 billion acquisition of IPG to grow to be the world’s largest holding company. M&A activity has increased because the prospect gets closer of an enormous agency holding company with an unlimited array of resources.
Various recent industry maneuverings point to how agencies are ramping up their strategic activities and see AI as a key pillar for his or her businesses moving forward.
Last week, Horizon Media Holdings and Havas launched Horizon Global, a three way partnership that may concentrate on U.S.-centric global clients using a combined media platform. In announcing the enterprise, executives heralded Horizon Global as the primary agency network in-built the AI era, while also acknowledging the “dynamic moment” the ad industry is currently in.
Earlier in September, Empower Media and Ocean Media merged to create Empower Ocean Media Group, an agency with $1.5 billion in billings. The industry is “at an inflection point,” noted Empower CEO Ashlee Clarke, in an e-mail Q&A with Marketing Dive. The merged media company is meant to present an alternative choice to the holding firms that “are still pushing one-size-fits-all buying models to prop up their bottom line(s),” the chief also noted.
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