Having snared Dutch-based production company MediaMonks for a cool €300 million ($A472 million) back in July, Sir Martin Sorrell has wasted no time in ramping up the business’ considerable tech offerings.
Set to be the cornerstone of Sorrell’s new S4 Capital empire, MediaMonks has just announced the establishment of a new research and development division to be known as MediaMonks Labs.
The new division will reportedly specialise in AI, AR, VR and voice technology for clients including Google, Nickelodeon, Stockholm Exergi and Furhat Robotics.
It will be headed by MediaMonks former head of games Sander van der Vegte (main photo) and be based in Stockholm.
Victor Knaap, CEO of MediaMonks said: “MediaMonks takes on challenges and opportunities at high speed and we understand what drives digital trends like no other. Embracing data, content and technology in this new age of brand communications is exactly what we are here to do. With MediaMonks Labs we are boosting our existing client offering.”
Sander van der Vegte said of the new venture: “By watching new developments and trends, we can tell what will be hot before it’s happening. MediaMonks has always stayed ahead of the curve, dedicating our time and talent to mastering new technologies and platforms. With MediaMonks Labs we reinforce our reputation as the ‘industry’s go-to player for ambitious digital ideas.”
Since acquiring MediaMonks, Sorrell himself has been rather quiet both on the media front and the business one leading some to speculate that the hard-working 73-year-old had given himself a well-deserved holiday.
It has been reported that Sorrell wants to add a media analytics company alongside MediaMonks offerings, however, has not yet been able to find one of scale that’s actually for sale. And even if it was, he’d face stiff competition from traditional agencies and the cashed-up consultancies.