A subsidiary of International Holding Company (IHC) in the UAE has acquired a stake in an American advertising firm Yieldmo.
Multiply Marketing Consultancy, which is fully-owned by Abu Dhabi-listed IHC, said the investment will open the door to collaboration to enhance its services, which include branding, marketing strategies, advertising, social media and market research.
The investment is part of Multiply’s strategy to pursue “growth opportunities through international partnerships and key investments,” according to a statement.
Yieldmo counts Google Ventures and Union Square Ventures among its investors. It is considered one of the world’s fastest-growing digital advertising and attention analytics companies.
It was not immediately clear how much stake IHC’s company has acquired in the American firm.
“Yieldmo is at the forefront of employing technologies to create beneficial solutions for consumers and marketers. This is making the marketing industry more efficient, creative and data-driven,” , Multiply’s managing director Samia Bouazza said.
Multiply’s parent firm, IHC is the fifth most valuable publicly listed company in the UAE with assets worth 10.7 billion UAE dirhams.
In 2019, Multiply became the largest shareholder in Abu Dhabi-based Viola Communicatios, complementing its existing services with events, print and outdoor advertising.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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© ZAWYA 2020