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Ve Interactive has stumped up seven-figures for a London creative agency

UK tech firm Ve Interactive has announced it has acquired a media buying and creative agency which counts the likes of Music Magpie and Coral as clients.

London-based Crave & Lamb, which specialises in programmatic media buying, has been acquired by the London-headquartered business for around £3m and follows Ve’s €5.13m acquisition of German programmatic video advertising firm Optomaton in September.

The pair of deals now give Ve a significant footing in the programmatic advertising space, an automatic form of digital media buying that is expected to grow by 31% in 2017.

David J. Brown, Ve’s Chief Executive Officer and Founder, commented: “The depth of experience of the Crave & Lamb team, along with their methodical approach to driving performance for their clients, is what really stood out for us.

“As our M&A strategy evolves, it’s becoming increasingly important to acquire the best-in-class so we are able to provide our clients with innovative technology and enhanced expertise. The acquisition of Crave and Lamb allows us to fulfil our strategy and provide even more value to our growing client base.”

Founded in 2012, Crave & Lamb has worked with the likes of 188Bet and Ben Sherman on targeted campaigns utilising programmatic advertising across display, paid social and video-on-demand services.

Rob Jones, Managing Director of Crave & Lamb, added: “We have a long-standing relationship with Ve and admire the way the business operates.

“We strongly believe the industry will continue to push agencies to enhance their technical capabilities and Ve’s expertise and international focus will improve our ability to deliver for our clients across a range of channels.”

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