Philadelphia—July 16, 2012—Procurement solutions provider Procurian acquired media audit and benchmarking company Media IQ to strengthen its specialized marketing offering and provide marketers with spend optimization solutions.
“This acquisition not only strengthens the value we can deliver to marketers but reflects our commitment to helping clients accelerate toward an approach we call ‘The New Procurement,’ where highly-specialized resources and market intelligence help bridge the gap between traditional procurement and significant areas of spend that are often ‘off-limits’ and therefore not optimized,” said Carl Guarino, Chief Executive Officer, Procurian. “Media IQ’s additional expertise and market intelligence helps marketers get the most from their media buy, providing a clear picture of what’s working and not working with their media spending and how to measurably increase the impact of their advertising.”
Media IQ quantifies and tracks the dimensions that drive media advantage. By leveraging a single scoring system, Media IQ helps marketers pinpoint where media value has been lost, provide wider marketplace context, and recommend course-correcting action. Ongoing benchmarks ensure that positive value trends can be reinforced while negative value trends can be quickly identified and resolved.
The combination of Procurian and Media IQ delivers a global marketing spend solution that includes sourcing, management and measurement. These services will allow marketing and procurement to align their approaches and achieve optimal results.
“My partners and I are thrilled to join the Procurian team to expand and enhance both of our offerings and deliver even more value to our clients globally,” said Michael Lotito, Chief Executive Officer, Media IQ. “Bringing these companies together is a great fit both culturally and philosophically, as we are jointly driven by a shared emphasis on unmatched expertise and actionable market intelligence.”
Procurian’s marketing solution is an integral part of its Specialized Procurement Infrastructure which provides its customers access to all the components necessary to optimize indirect spend—including a team of specialists with deep category expertise, real-time market intelligence, comprehensive processes and a sophisticated set of proprietary tools and technology. The acquisition of Media IQ illustrates Procurian’s commitment to continually innovating and advancing this infrastructure to deliver more value to its clients and ensure real, sustainable results.