JWT’s XM Asia Pacific Pte Ltd has completed its acquisition PT. Magnivate Group, Indonesia’s leading digital and social media marketing agency. This strategic business move will extend XM’s reach into one of Asia’s largest and most dynamic online and social media advertising markets. The newly acquired company will be renamed as XM Gravity. However, the company’s founding partner, Kevin Mintaraga, will remain on as CEO.
“This acquisition will give XM Asia a big-bang entry into one of the world’s most important growth markets. Magnivate is by far the most recognized and sought-after partner to work with in Indonesia. We are thrilled to join forces with Kevin and his team,” said Paul Soon, CEO of XM Asia Pacific.
With this acquisition XM will expand its expertise in the internet, mobile and social media space. Magnivate/ XM Gravity already has a notable roster of global and local clients, including Danone, Unilever, Frisian Flag, Samsung and Indofood; it also manages over 3 million brand fans for its clients on Facebook and Twitter.
Soon will work closely with Mintaraga to further strengthen Magnivate’s consumer experience, marketing technology and analytics offerings, and move the company’s already-impressive suite of social media marketing solutions up the curve. “We’ve worked on several projects with XM and have a strong working relationship with Paul. I see this tie up as an opportunity to combine our expertise and grow our market leadership across all areas of our business,” said Mintaraga. Magnivate/ XM Gravity also has a digital public relations practice, which helps brands track, engage and respond to consumer comments on social media, and a digital media buying business.
XM Asia is headquartered in Singapore, where it is one of the largest digital ad agencies, and also has operations in Malaysia. XM Asia plans to leverage its strength and extend its reach across Asia. The acquisition of Magnivate, which was done through an Indonesian subsidiary, is an important part of that regional expansion plan.