Media iQ boosted by private equity investment
Analytics and tech specialist Media iQ has been boosted by investment from a mid-market private equity firm.
ECI purchased a minority stake in the company, which is based in Salford, Greater Manchester, and has 12 offices around the world.
Media iQ founders Gurman Hundal and Lee Puri will continue to hold a majority stake in the business.
Hundal said: "The partnership with ECI is all about accelerating our ambition and growth. ECI has a long and proven track record of partnering with innovative, high-growth businesses and today marks the start of a new chapter in our journey."
The deal will enable the firm and its 350 staff continue rapid growth and invest further into product development at its Bangalore office.
Tom Wrenn, head of TMT at ECI, added: "Media iQ is one of the UK's unsung technology successes and has seen unprecedented growth in the last few years.
“Having built their own proprietary analytics and planning platform, AiQx, alongside their global footprint and partnerships with some of the world's leading brands and media agencies, Media iQ is poised for further growth and expansion.
"The team at ECI are very excited about this new partnership and look forward to working together to realize Media iQ's full potential."