Under the terms of the agreement, Digital Hyve will retain its brand and become a wholly owned subsidiary of Butler/Till. Kimberly Jones — who was appointed president & CEO of Butler/Till in 2020 — will serve as president & CEO of the combined agency.
Also, Digital Hyve employees will join Butler/Till’s employee stock ownership plan (ESOP). In the deal, Digital Hyve’s 56 full-time employees have joined Butler/Till, Knauss told CNYBJ. Prior to the acquisition deal, Butler/Till had about 200 employees, according to Knauss.
“Digital Hyve is a natural fit with our culture. They, too, share a passion for their people and are committed to creating a caring, compassionate workplace. Like our employees, they embrace innovation, cutting edge technology and provide top-notch client service,” Jones said. “Butler/Till has been committed to continually making strategic investments to expand service offerings for our clients and strengthen a culture of agility and adaptiveness. The acquisition of Digital Hyve is an exciting opportunity for employees and clients of both organizations as we continue to usher in a new era of growth, innovation, and transformation.”
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Both firms will continue to operate in Rochester, Syracuse, and New York City. Digital Hyve has operated offices in both Syracuse and Rochester, while Butler/Till also operates an office in New York City.
The acquisition makes the combined organization “one of the largest independent marketing and media agencies in the country,” per the news release. It also “diversifies” Butler/Till’s capabilities, and “expands its reach” within the small and mid-size business market and into new sectors, including retail, automotive, food and beverage, government, education, travel, tourism, and hospitality.
The deal also “strengthens the agency’s commitment” to 100 percent employee ownership, a “model proven to boost” productivity, retention rates, and workplace culture, Butler/Till said.
Knauss and Tanner
Under the terms of the agreement, Knauss and Digital Hyve COO Jake Tanner will serve as consultants through the end of 2021, a term that could be extended, if need be, Knauss told CNYBJ.
Knauss also noted that both he and Tanner plan to leave the company in 2022. Knauss says he’s an investor in multiple companies, will continue public speaking and consulting work until he decides on his next endeavor. Tanner has recently started another company called Unplugged Game Store in Chittenango, which competes in the collectible card and game space, according to Knauss.
In speaking about the acquisition deal, Knauss also commented in the Butler/Till news release.
“Digital Hyve has experienced tremendous growth because of its amazing employees. Partnering with Butler/Till and joining their ESOP rewards our crew’s efforts and empowers us to work together to meet our clients’ most pressing challenges and deliver game-changing results,” Knauss said. “Butler/Till’s purpose-driven approach, reflected in its engaged, award-winning culture, aligns perfectly with our core tenets of integrity and client satisfaction. Together we can deliver the specialized expertise and dedication businesses of all sizes demand.”
