Veda announced the acquisition of direct marketing and data agency The Prospect Shop (TPS). The investment is part of Veda’s growth strategy for its marketing services division, Inivio. The acquisition of TPS expands Inivio’s offering into the not-for-profit market sector and business to business marketing.
TPS provides target marketing services to improve return on marketing investment (ROMI) for their customers who are primarily charitable organisations but also corporates and small to medium enterprises. Veda Chief Executive Nerida Caesar said the investment was consistent with Veda’s growth strategy to make targeted acquisitions and investments which complement Veda’s existing capabilities and expand the customer base and markets served.
According to Caesar, “Veda’s investment in TPS allows us to expand into a new market sector and extends the services and channels to market of our growing marketing services business. The combination of our data and insights with TPS’ enables the not-for-profit sector to unlock more powerful insights and make smarter data driven marketing decisions.”
The acquisition of TPS will also support the expansion of the Inivio New Zealand business which will sell TPS services to the New Zealand market. The TPS founding partners, Beau Loughhead and Martin Ruane along with their talented team, will combine with the Inivio team adding further market experience and opportunities. Beau Loughhead said, “We have built a powerful niche offering to the not-for-profit sector over the past 15 years. The combination of Veda and TPS data and expertise will provide more opportunities for our existing customers to reach their audience more effectively and to extend their offering.”
About TPS: The Prospect Shop is the leading data planning agency for the not-for-profit sector in Australia. TPS helps charitable organisations find and engage new donors through targeted direct marketing across a range of channels.
Source: Veda in the Media