Ad tech company Ve Interactive has today (December 12) announced the acquisition of programmatic media buying and creative agency Crave & Lamb, in a deal worth approximately £3 million.
The buyout readies Ve for a charge on Europe’s programmatic market, where eMarketer tips the media buying method to grow 31% throughout 2017. It also marks Ve’s most recent acquisition since September’s purchase of Optomaton, providing the backbone for a video demand side platform launched last week.
“The depth of experience of the Crave & Lamb team, along with their methodical approach to driving performance for their clients, is what really stood out for us,” commented Ve Interactive’s CEO and founder, David J. Brown.
“As our M&A strategy evolves, it’s becoming increasingly important to acquire the best-in-class so we are able to provide our clients with innovative technology and enhanced expertise.”
Crave & Lamb’s specialism - which it works across display, paid social and VOD - is founded on the belief that most media channels will eventually be bought programmatically, according to the group’s managing director, Rob Jones.
“We strongly believe the industry will continue to push agencies to enhance their technical capabilities and Ve’s expertise and international focus will improve our ability to deliver for our clients across a range of channels,” said Jones, adding that the two businesses had enjoyed a “long-standing relationship”.
The agency’s automated ad-buying tech has contributed to industry-wide recognition as one among the UK’s top 100 media agencies, on top of an extensive tally of accolades, including Highly Commended for ‘Most Effective Use of Programmatic’ at this year’s Performance Marketing Awards.
“This is a hugely exciting time for Crave & Lamb," said Jones; "Ve leads the industry with its approach to conversion technologies and when coupled with our experience of managing innovative campaigns, this creates a very compelling offering.”