IPG Mediabrands has acquired a majority stake in Finnish independent media agency and digital consultancy Virta.
Helsinki-based Virta will bring programmatic and insight capabilities to IPG Medibrands network through its speciality business units R3al and Kuula, alongside the group’s existing search, programmatic and social units Reprise, Cadreon and Marvellous.
“The acquisition of Virta continues our strategic investment in the Nordics, and our aggressive expansion throughout EMEA,” said Mediabrands global chief executive Henry Tajer. “In just under 18 months, IPG Mediabrands has successfully acquired four companies: Mubaloo, Yune, StickyEyes and today, Virta. With each, we are ensuring that our people have access to the latest tools to deliver innovative and dynamic work to clients.”
The combined business in Finland will be led by Virta founder and CEO Mika Häyrinen, who will report to IPG Mediabrands Nordics chief executive Michael Thim.
“Clients are increasingly demanding more digital-focused and insights-driven solutions, so we identified a need to bring the very best talent in this area under one roof,” said Thim.
“The combined offering of IPG Mediabrands and Virta will be a force to be reckoned with in Finland’s competitive market, and we are can’t wait to launch our newly transformed business proposition to clients.”
In March, IPG Mediabrands promoted Arun Kumar, the global president of Cadreon to the newly-created role of chief data and marketing technology officer.