Grey Advertising’s purchase of media buying agency Beyond
Interactive is part of an ongoing effort by Grey to bolster its online media business via its new MediaCom Digital group. Last week, company officials for the first time discussed the deal which was made last month [IQ News, July 26].
MediaCom Digital, formed in April, was designed to build clients a link between Grey’s traditional, direct and interactive ad services. “Clients wanted to work seamlessly across platforms,” said Harvey Goldhersz, president of MediaCom Digital, New York. The group develops strategic media plans that determine which Grey units clients should use for their campaigns.
The acquisition is meant to complement other Grey New Technologies divisions, such as Grey Direct and media.com. “We recognized this was going to be the growth area for the foreseeable future,” Goldhersz said. “We wanted to expand our capability to meet client needs.” Beyond Interactive remains based in Ann Arbor, Mich., with offices in San Francisco and New York.
CEO Jonn Behrman said the company considered going public or obtaining outside funding before agreeing to the Grey deal. “We started looking to find an option that added value but still kept us autonomous,” Behrman said, adding, “Other agencies wanted to change our brand or wanted us to become a sub-unit.”
Beyond Interactive has added two undisclosed clients to Grey’s traditional side, he said, and has started working with Grey client Oracle, among others.
Publish date: August 23, 1999 https://stage.adweek.com/brand-marketing/iq-news-behind-beyond-grey-explains-acquisition-33432/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT