Dentsu Aegis Network to snap up Covario
Dentsu Aegis Network has formally agreed to purchase the search and content marketing business of San Diego based Covario for an unspecified amount.
The deal will see Dentsu acquire the independent search and performance marketing agency in its entirety by the end of the year, save for a separate SEO software unit which will continue to work with its existing clients.
Once the deal is complete Covario’s agency business will fall under the Dentsu Aegis Network umbrella where it will henceforth operate as iProspect, its global digital performance agency.
Nigel Morris, CEO of Dentsu Aegis Network Americas & EMEA. “We have a very clear strategy for the capabilities and agencies we bring into our operating model. Covario is uniquely suited to complement and scale iProspect’s outstanding offering as the world’s leading digital performance agency.”
In a joint statement, Michael Gullaksen and Jeff Johnson, Co-CEOs of Covario, commented, “We were immensely impressed by the network’s vision, as well as iProspect’s key role in bringing that vision to life. Having built one of the top independent search marketing agencies, and now backed by the global resources, power and talent of Dentsu Aegis Network, we are poised to take our combined offering to the next level at scale.”
Gullaksen and Johnson will each assume senior executive positions within the combined Covario/iProspect business.