Marketing and advertising company Publicis Israel is continuing its spending spree with the acquisition of Israeli performance creative agency Glitch. This latest acquisition comes only several days after Publicis Israel bought Imi Eiron's Likearainbow cultural branding company.
Performance creative, in contrast to traditional or digital creative, focusing on advertising for sales based on data, mainly adapted from Facebook, Google and TikTok. In the past it has been perceived as technological so that performance creative companies maintained a separation from the creative mainstream.
Glitch's founders are CEO Jeremy Bitton and CMO Nick Savage who have both worked abroad in the UK as well as Israel in media, content, creative and social media positions, among other things at Minute Media and Vocativ. They founded Glitch two years ago with marketing services directed at the US and Europe and companies based there. Clients include Facebook, Upright, Lightboxer and Barilla.
The acquisition is aimed at providing Publicis with a foothold in the advertising market for Israeli companies operating overseas, which is an annual market worth more than $8 billion - significantly higher than the advertising market for Israeli companies advertising in Israel, which is worth $1 billion annually.
Publicis CEO Yossi Lubaton said, "The purchase of Glitch is designed to give the group abilities in the field of performance creative and allow it to expand the Group's list of clients with companies operating from Israel while reaching clients outside of it. In addition, the Glitch's knowhow will allow us to improve the quality of our product for the Group's existing clients."
Glitch cofounder and CEO Jeremy Bitton said, "For every dollar invested by Israeli tech companies in advertising, more than halfr a dollar is invested in Google or Facebook. This is the field in which we operate and there is where we seek to grow and lead. The link up with the Publicis Group will give us the economic support that we require in order to continue our rapid rate of growth and meet the growing demand for our services."
Published by Globes, Israel business news - en.globes.co.il - on November 23, 2021.
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