MiQ, a London-headquartered programmatic media partner for brands and agencies, has announced the acquisition of French media governance and data quality company, Grasp. This is MiQ’s third financial investment.
An MiQ statement said that there is an average of US$45,000 in overspending for every $1 million in media budget – often from waste, human error, or fraud – and that 80 pc of marketing data is broken or lost due to manual processes.
Grasp’s SaaS suite of quality assurance and compliance products claim to prevent non-compliance and enforce governance frameworks before the campaign launch. It is a multi-million-dollar, profitable business, with more than 8,000 users worldwide across brands, such as L’Oréal and PepsiCo, and media agencies such as Havas Media Group and WPP, informed an official statement.
Gurman Hundal, Co-founder and CEO, MiQ, said, “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. 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.”
Grasp 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, the statement added.
“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.” said Pierre-Lou Dominjon, Co-founder and CEO, Grasp.
“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,” added Siddharth Dabhade, Managing Director and global board member at MiQ.
MiQ acquired UK-based AirGrid in 2022, strengthening targeting and activation capabilities in line with privacy regulations and the demise of third-party cookies.
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