Procurian, Inc
16.07.2012 15:00
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Addition of Media Audit and Benchmarking Company Creates the Leading Spend
Optimization Solution for Marketers
PHILADELPHIA, 2012-07-16 15:00 CEST (GLOBE NEWSWIRE) --
Leading comprehensive procurement solutions provider Procurian, today announced
the acquisition of media audit and benchmarking company, Media IQ. The
acquisition of Media IQ further strengthens Procurian's specialized marketing
offering. With this addition, Procurian now offers unmatched spend
optimization solutions for marketers, with more than 70 specialists actively
managing approximately $7 billion of spend each year, across 40 blue-chip
clients.
'This acquisition not only strengthens the value we can deliver to marketers
but reflects our commitment to helping clients accelerate toward an approach we
call 'The New Procurement,' where highly-specialized resources and market
intelligence help bridge the gap between traditional procurement and
significant areas of spend that are often 'off-limits' and therefore not
optimized,' said Carl Guarino, CEO at Procurian. 'Media IQ's additional
expertise and market intelligence helps marketers get the most from their media
buy, providing a clear picture of what's working and not working with their
media spending and how to measurably increase the impact of their advertising.'
Media IQ quantifies and tracks the dimensions that drive media advantage. By
leveraging a single scoring system, Media IQ helps marketers pinpoint where
media value has been lost, provide wider marketplace context, and recommend
course-correcting action. Ongoing benchmarks ensure that positive value trends
can be reinforced while negative value trends can be quickly identified and
resolved.
Procurian's marketing solution leverages proprietary technology and deep market
analytics along with specialists to help clients get the most value from their
investments and drive savings that can be re-deployed into additional,
high-value marketing activities. The combination of Procurian and Media IQ
delivers a truly end-to-end marketing spend solution on a global basis that
includes sourcing, management and measurement. This full spectrum of services
will allow Marketing and Procurement to align their approaches and achieve
optimal results.
'My partners and I are thrilled to join the Procurian team to expand and
enhance both of our offerings and deliver even more value to our clients
globally,' said Michael Lotito, CEO of Media IQ. 'Bringing these companies
together is a great fit both culturally and philosophically, as we are jointly
driven by a shared emphasis on unmatched expertise and actionable market
intelligence.'
Procurian's marketing solution is an integral part of its Specialized
Procurement Infrastructure(TM), which provides its customers access to all the
components necessary to optimize indirect spend, including a dedicated team of
specialists with deep category expertise, real-time market intelligence,
comprehensive processes and a sophisticated set of proprietary tools and
technology. The acquisition of Media IQ illustrates Procurian's commitment to
continually innovating and advancing this infrastructure to deliver more value
to its clients and ensure real, sustainable results.
About Media IQ
Media IQ is the premier US media audit and benchmarking firm. The company was
founded in 2002 and pioneered media auditing in the US. Media IQ works with
Fortune 500 clients across all media types to provide data-driven insights that
benchmark and drive media value. The firm is based in New York City. For more
information, visit www.m-iq.com.
About Procurian, Inc.
Procurian - formerly known as ICG Commerce - is the leading specialist in
comprehensive procurement solutions. Forward-thinking business leaders partner
with Procurian to transform procurement and drive sustainable changes to their
cost structures. Global industry leaders, including Kimberly-Clark, Hertz,
Symantec, Timken and Whirlpool, have chosen Procurian to accelerate this
transformation. Procurian's built-out Specialized Procurement Infrastructure(tm)
integrates with businesses to optimize spending and deliver real savings that
equal a margin point or more. Procurian is an ICG (Nasdaq:ICGE) company. For
more information, visit www.procurian.com.
The Procurian, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6920
CONTACT: Media Contact:
Michelle Musburger
+1 847-859-2391
michelle@musburger.com
News Source: NASDAQ OMX
16.07.2012 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Procurian, Inc
United States
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ISIN: US9901972128
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DGAP-News: Procurian Further Strengthens Its Marketing Solution With Acquisition of Media IQ
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