PHILADELPHIA, July 16, 2012 (GLOBE NEWSWIRE) -- Leading comprehensive procurement solutions provider Procurian, today announced the acquisition of media audit and benchmarking company, Media IQ. The acquisition of Media IQ further strengthens Procurian's specialized marketing offering. With this addition, Procurian now offers unmatched spend optimization solutions for marketers, with more than 70 specialists actively managing approximately $7 billion of spend each year, across 40 blue-chip clients.
"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, CEO at 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.
Procurian's marketing solution leverages proprietary technology and deep market analytics along with specialists to help clients get the most value from their investments and drive savings that can be re-deployed into additional, high-value marketing activities. The combination of Procurian and Media IQ delivers a truly end-to-end marketing spend solution on a global basis that includes sourcing, management and measurement. This full spectrum of 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, CEO of 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 InfrastructureTM, which provides its customers access to all the components necessary to optimize indirect spend, including a dedicated 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.
About Media IQ
Media IQ is the premier US media audit and benchmarking firm. The company was founded in 2002 and pioneered media auditing in the US. Media IQ works with Fortune 500 clients across all media types to provide data-driven insights that benchmark and drive media value. The firm is based in New York City. For more information, visit www.m-iq.com.
About Procurian, Inc.
Procurian – formerly known as ICG Commerce - is the leading specialist in comprehensive procurement solutions. Forward-thinking business leaders partner with Procurian to transform procurement and drive sustainable changes to their cost structures. Global industry leaders, including Kimberly-Clark, Hertz, Symantec, Timken and Whirlpool, have chosen Procurian to accelerate this transformation. Procurian's built-out Specialized Procurement Infrastructure™ integrates with businesses to optimize spending and deliver real savings that equal a margin point or more. Procurian is an ICG (Nasdaq:ICGE) company. For more information, visit www.procurian.com.
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