SYRACUSE, N.Y. — Digital Hyve, a digital-marketing agency with offices in Syracuse and Rochester, is now operating as a wholly owned subsidiary of a Rochester firm. Butler/Till, a women-owned, employee-owned, marketing agency, on June 24 announced that it has acquired the Digital Hyve, which operates its Syracuse office at 126 N. Salina St. The deal […]
SYRACUSE, N.Y. — Digital Hyve, a digital-marketing agency with offices in Syracuse and Rochester, is now operating as a wholly owned subsidiary of a Rochester firm.
Butler/Till, a women-owned, employee-owned, marketing agency, on June 24 announced that it has acquired the Digital Hyve, which operates its Syracuse office at 126 N. Salina St.
The deal closed in mid-June, Jeff Knauss, co-founder and CEO of the Digital Hyve, tells CNYBJ in an email. The companies didn’t release any financial terms of their deal.
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 says. 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.”
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 has 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.
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 tells CNYBJ.
Knauss notes that both he and Tanner plan to leave the company in 2022. Knauss says he’s an investor in multiple companies and 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.