Dive Brief:
- Independent agency Huge has acquired creative studio Both&Yes, whose founders have been involved with building digital and AI experiences for Google and YouTube, per a press release. Terms were not disclosed.
- Both&Yes co-founders, Ken Frederick and Michael Lin, will become executive creative directors at Huge, bringing years of experience in brand strategy, design and technology.
- IPG sold Huge last year to private equity firm AEA Investors and was merged with Hero Digital earlier this year as it reshapes itself into an agency that creates AI-powered experiences for brands.
Dive Insight:
Both&Yes has worked with brands such as 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 in which generative AI-powered experiences and information 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 a statement.
The deal also reflects a broader reshuffling in the agency space as Omnicom gets closer to its proposed $13 billion acquisition of IPG to become the world’s largest holding company. M&A activity has increased as the prospect gets closer of a giant agency holding company with a vast array of resources.
A number of recent industry maneuverings point to how agencies are ramping up their strategic activities and see AI as a key pillar for their businesses moving forward.
Last week, Horizon Media Holdings and Havas launched Horizon Global, a joint venture that will focus on U.S.-centric global clients using a combined media platform. In announcing the venture, executives heralded Horizon Global as the first agency network built in 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 intended to present an alternative to the holding companies that “are still pushing one-size-fits-all buying models to prop up their bottom line(s),” the executive also noted.
