theexchangelab

Media buying agency GroupM has acquired The Exchange Lab along with its proprietary programmatic marketing technology Proteus for an undisclosed amount, reports IndianTelevision.

The Exchange Lab is a programmatic marketing solutions provider, with its flagship product Proteus offering solutions to acquire and re-engage customers. Proteus works cross platform and offers data and insights to marketers. By integrating The Exchange Lab, GroupM will use Proteus to provide measurements and allocation for marketing budgets to its clients.

Interestingly, in December last year, CVL Srinivas, CEO (South Asia) at GroupM told MediaNama that “The media agencies of the future are going to be like newsroom: there is an explosion of data, and you need systems, technology people to sift through that data. You need to get meaningful insights from data, (and) using those insights, create campaigns and solutions for clients.”

New appointments: In May, GroupM promoted Tushar Vyas as its chief strategy officer for South Asia. Prior to this, Vyas had been heading GroupM Interaction, the digital media arm of GroupM, a unit he helped set up many years ago. The same month, it also appointed Lakshmi Narasimhan as chief growth officer, South Asia. Narasimham would be responsible for media partnerships and digital teams. In December last year, GroupM had appointed Vikram Sakhuja as the global group strategy officer of the company, after his previous position as global CEO was passed on to Lindsay Pattison in October last year.

Other developments:

– Last month, mobile ad-tech firm Tyroo Technologies expanded its ad retargeting business to markets like Europe.

– Earlier this month, online advertising solutions company Vizury laid off around 50 people in 3 cities in its ad retargeting business, and pivoted its business model to a data management platform (DMP) business.

– AdMagnet, funded by Sequoia Capital, and one of India’s key ad networks, suspended operations starting October 30th.

-Pokkt, a mobile video advertising platform, raised close to $5 million in funding from new investors as well as other existing investors to strengthen its technology and product and for hiring.

– In October, the Indian Government planned to increase advertising spend on the digital platform, in lieu of ads on tradition media like print and television, and said that the Government would also be present on popular platforms like YouTube.

– In the same month, Ad technology platform Adadyn (previously known as Ozone Media) launched a self serve programmatic ad platform for small and medium businesses (SMBs), where marketers could create, fund and launch campaigns (including retargeting).