The Overland Park, Kansas-based Digital Evolution Group announced Tuesday it has been acquired by a Japanese advertising company. The deal is worth approximately $150 million, The Wall Street Journal reports, citing a person close to the deal.
The digital marketing agency was acquired by Dentsu Aegis Network, a unit of Japanese advertising giant Dentsu Inc. Digital Evolution Group, or DEG, will join Dentsu Aegis Network’s digital agency, Isobar.
“We felt like we needed to bolster our commerce capability to deliver not only digital marketing but commerce and omnichannel capabilities,” Deb Boyda, CEO of Isobar U.S., told The Wall Street Journal. “DEG brings deep skill in the commerce arena.”
DEG, led by co-founder and CEO Neal Sharma, was founded in 1999. Sharma and the rest of the management team will remain in place, according to a press release.
DEG recently reported having 319 total employees, including 189 in the Kansas City area, the Kansas City Business Journal reports.
The acquisition is the latest in a series of investments by Denstu Aegis, which has bought up multiple analytics and digital marketing businesses in recent years, The Wall Street Journal reports.