Women’s and employee marketing agency Butler / Till has acquired New York-based digital marketing agency Digital Hyve, the companies said Thursday.
Terms of the deal were not disclosed.
Butler / Till purchased Digital Hyve to expand its offering to small and medium-sized businesses, while allowing Digital Hyve to work with larger clients, said Amanda DeVito, vice president of marketing and growth for Butler / Till.
The combination of companies’ capabilities will allow them to offer a more holistic offering in media, creativity, analytics and digital marketing and advertising, as marketers need support to execute increasingly complex digital campaigns.
“With all the digital transformation, privacy discussions, cookie-free regulations, data of origin, Digital Hyve’s [capabilities] they were extremely attractive, ”said DeVito. “Digital media and the media are in our DNA.”
The acquisition also fits with B / T’s commitment to 100% employee ownership. The agency sold its shares to employees and completed the transition from its Employee Stock Ownership Plan (ESOP) in 2014. Digital Hyve was also looking to become employee-owned and struck up a conversation with Butler / Till about how to do it, what that served as the catalyst for the acquisition, said Jeff Knauss, CEO and co-founder of Digital Hyve.
For now, Butler / Till does not expect to remove either brand, and both companies will continue to work in separate office buildings face-to-face in Rochester, New York. Butler / Till recently invested in a two-story headquarters with a library, coffee bar, sit-and-stand desks, and quiet spaces. The company hopes to move employees to the new space in the fall under a hybrid work model.
Butler / Till will work with existing Digital Hyve clients, although the two agencies have yet to launch joint accounts. B / T clients include Bauch Health, Salix Pharmaceuticals, and Northwest Bank, while Digital Hyve has worked with Syracuse University, Vision Auto Group, and Ocean Casino Resort.
The joint venture will have a combined staff of approximately 250 people. In 2020, Butler / Till generated approximately $ 28.5 million in gross revenue. It has brought in practically 60 staff members since the start of the pandemic.
According to Knauss, the company generated more than $ 12 million in turnover in 2020.
Butler / Till is a certified B corporation, a for-profit company that must meet rigorous standards of social and environmental performance, accountability, and transparency in all decision-making processes. Digital Hyve is currently in the process of becoming a certified B Corp.