Two innovative brands joining forces to create
a leading independent digital transformation business
BROOKLYN, N.Y., Dec. 5, 2024
/PRNewswire/ -- Huge, a leading experience design and technology
business, today announced that it has been acquired by AEA
Investors ("AEA"). Huge was acquired from Interpublic Group ("IPG")
and, in connection with the transaction, will join forces with
AEA's existing portfolio company Hero Digital, forming one of the
largest independent experience transformation businesses in the
world.
Founded in 1999, Huge has built an impressive legacy of creating
compelling digital products and experiences for clients, such as
Google, McDonalds, NBCU, Nike, ExxonMobil, and more. Through this
strategic combination, Huge will unite with Hero Digital, a
similarly customer-centric organization that is committed to
delivering innovative, information-driven experience design
solutions.
The combined company will leverage Huge and Hero Digital's
differentiated service offerings, complementary capabilities, and
expanded global reach to further define the future of intelligent
experiences, all while delivering enhanced growth for clients.
"This partnership comes at a critical time in the industry, as
demand for intelligent experiences that combine innovation with
real, measurable impact is increasing," said Lisa De Bonis, CEO of Huge. "We are delighted to
come together with Hero Digital, and we are confident that the
marriage of our businesses – supported by AEA's expertise in
helping innovative companies drive growth – will enable us to
continue to transform how clients connect with their customers and
aid them in designing human-directed experiences at scale."
"This strategic combination represents a transformative moment
for Hero Digital, Huge, and our valued clients," said Jay Dettling, CEO of Hero Digital. "Together, we
will leverage our collective creativity and talent to continue
providing best-in-class experiences, marketing, and commerce
solutions, supporting the growth of our customers and the combined
business."
In addition to scale and an enhanced global footprint, bringing
together Huge and Hero Digital will establish a combined company
that is positioned to serve a broader range of industries and
support clients with a wider spectrum of capabilities.
"Huge has an outstanding reputation for delivering digital
experiences that drive significant long-term value for its clients,
and we've been impressed by their strategic and creative strength
and are excited about the leverage this brand will bring us in the
market," said AEA Operating Partner Jim Coleman, who will serve as
Executive Chairman of the combined company. "With broader industry
exposure and an expanded spectrum of capabilities, together, Huge
and Hero Digital will be an experience transformation powerhouse
that is well positioned for accelerated growth in an increasingly
data-driven and digitally led marketplace. We look forward to
supporting the combined team as they seek to execute on the
exciting opportunity in this space."
Philippe Krakowsky, CEO of IPG,
added, "We're pleased for the team at Huge and look forward to
seeing the next phase for this storied digital brand as the company
continues its evolution under new ownership."
Houlihan Lokey and Morgan Stanley
acted as financial advisors and Willkie
Farr & Gallagher LLP provided legal representation to
IPG and Huge.
About Huge
Huge is a design and innovation company. We
create products and experiences that grow the world's most
ambitious companies. We do this by designing experiences for
people, not users, and uncovering new sources of growth by
leveraging our creative talent, our proprietary platform LIVE and
unlocking the advantages brought to us by emerging technologies. We
believe all experiences should be intelligent and unique to every
client.
About Hero Digital
Hero Digital is a leading
independent customer experience company leveraging strategy,
design, technology, marketing, and data, to solve the critical
digital transformation needs of the Fortune 1000. Hero Digital
creates new business growth by transforming the complete digital
customer experience, enabling people and brands to prosper. Hero
Digital's blended teams help companies like Comcast, U.S. Bank,
Zoom, Nagase, UNC Health, and TD Ameritrade Institutional
drive business growth across the customer journey.
About AEA Investors
AEA Investors was founded in 1968
by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg
& Co. as a private investment vehicle for a select group of
industrial family offices with substantial assets. AEA has an
extraordinary global network built over many years which includes
leading industrial families, business executives, and leaders, many
of whom invest with AEA as active individual investors, join its
portfolio company boards, or act in other advisory roles. Today,
AEA's over 120 investment professionals operate globally with
offices in New York, Stamford, San
Francisco, London,
Munich, and Shanghai. The firm manages funds that have
approximately $19 billion of invested
and committed capital including the leveraged buyouts of middle
market and small business companies, growth capital, and private
debt investments. For more information,
visit www.aeainvestors.com.
About IPG
Interpublic (NYSE: IPG)
(www.interpublic.com) is a values-based, data-fueled, and
creatively-driven provider of marketing solutions. Home to some of
the world's best-known and most innovative communications
specialists, IPG global brands include Acxiom, Craft, FCB,
FutureBrand, Golin, Initiative, IPG Health, IPG Mediabrands,
Jack Morton, KINESSO, MAGNA, McCann,
Mediahub, Momentum, MRM, MullenLowe Global, Octagon, R/GA, UM,
Weber Shandwick and more. IPG is an S&P 500 company with total
revenue of $10.89 billion in
2023.
Media Contacts
Huge:
De'Andra Roberts
droberts@hugeinc.com
Hero Digital:
Challin Baro
Challin.baro@herodigital.com
AEA Investors:
Kaitlin Bilby
(212) 845-4307
Media@aeainvestors.com
Joele Frank, Wilkinson Brimmer
Katcher
Kate Thompson / Erik Carlson / Madeline
Jones
(212) 355-4449
IPG:
Tom Cunningham
(212) 704-1326
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SOURCE Huge