Press:Programmatic player Media iQ to scale on the back of private equity investment
Private equity firm ECI Partners has acquired a minority stake in analytics and technology company Media iQ for an undisclosed sum.
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As part of the deal, Tom Wrenn, ECI Partners’ head of TMT (technology, media and telecoms) will join Media iQ’s board of directors.
The funding raised from the deal will be used by Media iQ to grow its geographic footprint, diversify commercially, invest in its AI-powered planning platform AiQx and hire the talent needed for this expansion.
“Commercially we’re looking to invest more equitably into our enterprise service businesses such as tech analytical services to clients,” Gurman Hundal, co-founder of Media iQ, explained. “We’re also looking to further diversify our footprint, starting with Southeast Asia in Singapore. We are also reviewing three or four other markets to see about launching at the start of next year.”
Founded in 2010 and headquartered in the UK, Media iQ has more than 350 staff in 12 offices in North America, Europe, and Asia.