Procurian Buys Media Audit Firm M-IQ

Procurement consultancy Procurian has acquired New York-based media audit and benchmarking company Media IQ (M-IQ). Terms of the deal were not disclosed.

M-IQ - which was founded in 2002 by partners Brian Cauley, Evan Lewis and Michael Lotito - helps clients measure how their brand performs against those of their competitors. Through its proprietary scoring system, the firm can identify whether consumers are responding to competitors' ads or the client's, where and why advertising content gains or loses audience, and when viewers watch an ad and when they don't.

Procurian CEO Carl Guarino says the acquisition further strengthens his firm's specialized marketing ROI offering, and comments: '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'.

Lotito, CEO of M-IQ adds: '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.'

Web sites: www.procurian.com and visit www.m-iq.com .