Procurement services provider Procurian has acquired Media IQ, the media auditing firm founded by former Madison Avenue media director Michael Lotito, which helps marketers evaluate the performance
of their media services agencies.
Terms were not disclosed, but Procurian said Media IQ joins a team of "more than 70 specialists actively managing approximately $7 billion of spend each
year, across 40 blue chip clients."
"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," statesl Lotito. "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."