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  • Writer's pictureChesapeake Group

M&A wrap up – Consolidation in the Digital marketing and Design space


Major IT services players like Tech Mahindra, Accenture and Infogain have acquired design and digital marketing companies to augment their front-end consulting offerings, add marquee logos, and gain digital experience design capabilities. This further underlines the blurring of lines between core technology players and digital agencies, such as Publicis and WPP (who are acquiring more technology capabilities). Both sets of players are competing for the same digital spend of their enterprise clients, by offering fully integrated solutions – from consulting to technology.

On 5th November 2019 Tech Mahindra announced the acquisition of BORN Group, a NY based full service digital agency, for $95 million in an all cash transaction. The valuation represents a revenue multiple of 1.9x based on CY 18 revenue.

Founded in 2011, the company offers strategy consulting, content creation, digital production, eCommerce and content management system (CMS) implementations and data driven UX services. Its marquee customers include Sotheby’s, Red Bull, Skull Candy, Harley Davidson, Ferragamo, Fossil and Maxim.

This acquisition will enhance Tech Mahindra’s transformation consulting capabilities through addition of creative and design skills, technology and analytics platforms and commerce expertise.


On 31st October 2019, Accenture Interactive announced the acquisition of London headquartered digital ventures consulting company, Bow & Arrow. The financial terms of the transaction were not disclosed.

Founded in 2009, the company offers design, growth, and strategy consultancy services. Its key customers include BMW MINI, Google, Boots, American Express, Wall Street Journal and British Airways.

This acquisition bolsters Accenture’s ability to help communications, media and technology companies reinvent experiences and deliver new revenue opportunities, from strategy to execution.


On 23rd October 2019, Chrys Capital backed Infogain announced the acquisition of Seattle based digital experience consultancy firm, Revel Consulting. The financial terms were undisclosed.

Founded in 2005, the firm provides digital transformation solutions which integrate strategy, design and technology. Its key customers include Starbucks, Symantec, Expedia, Juniper, Adobe, T-Mobile, Samsung, PayPal, AT&T, Cisco, Ebay, Nordstrom and Microsoft.

Revel’s lifecycle approach to marketing, customer experience and commerce delivers go-to-market and brand-driven strategies that are a perfect complement to Infogain’s custom-built technology products and platforms.

The Chesapeake Group was not the advisor in these transactions.


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