Search Agency Covario Acquired by Dentsu Aegis

In relatively quiet fashion late last week, SEM agency Covario, 2011-2013 OMMA Search Agency of the Year and developers of the Rio SEO platform, announced that they had been acquired by global media conglomerate Denstu Aegis. 

In a press release issued by Dentsu, it was revealed that Covario will be absorbed into Aegis’ iProspect performance marketing group. Rio, however, will remain its own, independent organization, to be run by a Covario founder.

Covario’s search & content marketing business, based in San Diego, is likely to remain on the West Coast following completion of the acquisition, which is expected to take place by the end of Q4. The company employes 140 employees, though no word on how many of those will remain with Rio.

Financial terms have yet to be disclosed.

What do you think of the latest acquisition of an independent digital marketing agency?