Martin Sorrell's S4 Capital is acquiring Sao Paulo-based ProgMedia to expand MightyHive’s operations into Latin America.
Financial terms of the deal were not disclosed.
Founded in 2017, ProgMedia provides consultancy, campaign operations and training capabilities for Latin American clients.
As part of the deal, ProgMedia will become a wholly-owned subsidiary of MightyHive and rebrand itself as MightyHive in the coming year as it broadens its service offering and technology partners.
Bruno Rebouças, CEO-founder, and Natália Fernandes, COO=partner, will remain as the leaders of the ProgMedia team, reporting to Emily Del Greco, president of the Americas, MightyHive.
“Over the last several months, we have had a surge of demand for Latin America-based support and consulting from our multi-national clients. I am delighted to work with Bruno, Natália, and team to scale MightyHive's offering into this critically important region,” explains Del Greco.
Pete Kim, MightyHive CEO, adds: “We expect our success will lay the groundwork for further acquisitions in 2019 and 2020.”
Last year, MightyHive merged with S4 Capital, Sorrell’s post-WPP digital advertising and marketing services start-up.