Merger to accelerate expansion of digital marketing capabilities for both agencies and their global client bases
Digital marketing agency New Engen, Inc. announced it has joined forces with Acorn Influence, a leading influencer marketing agency which uses product placements and endorsements from social media creators to drive accountable growth for their clients. The added capability allows the Seattle-based agency to tap into one of the fastest growing segments in the digital marketing ecosystem while Acorn Influence will benefit from New Engen’s deep media, creative and analytics expertise to meet the needs of increasingly performance-oriented shopper marketers. Investments in influencer marketing reached $13.8b in 2021 and have more than doubled since 2019, while digital media investment has continued to see historic growth reaching $491.7b in 2021.
“Acorn’s influencer network, best-in-class technology, and ability to produce breakthrough content make them a perfect fit for our vision to become a global leader in accountable marketing services,” said Justin Hayashi, Chief Executive Officer (CEO) at New Engen, Inc. “As performance and influencer marketing increasingly merge, there is a massive potential for our combined expertise across content development, digital media, technology, and analytics to accelerate growth for our clients. We’re thrilled to work together to create a new standard for accountability, transparency, and performance.”
“We are extremely excited to join forces with the New Engen team, which has a great track record of providing exceptional client and employee satisfaction,” said Myra Dallas, CEO at Acorn Influence, who is joining the New Engen Board. “Our high-quality content and Consumer Packaged Goods (CPG) retail knowledge base, combined with New Engen’s deep media and eCommerce expertise is a powerful combination to meet the demands of the increasingly performance-oriented shopper marketer.”
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The merger comes on the heels of a significant equity investment by Insignia Capital Group in New Engen in December 2021 to help accelerate the fast-growing digital marketing agency’s next stage of growth and expand its service offerings. Acorn Influence investor NewRoad Capital Partners will continue to be an investor in the combined business. Canaccord Genuity Group Inc. served as the strategic and financial M&A advisor to Acorn Influence in this transaction.