Digital veteran Amir Malik is poised to join advisory firm Alvarez & Marsall from Accenture Song
By Ronan Shields • September 26, 2024 •
Amir Malik is set to join Alvarez & Marsall, an advisory firm known for its involvement with private equity and reputation for corporate turnarounds, as managing director of its digital technology business, Digiday understands.
Malik, who spent several years at Accenture Song as the consultancy furthered its interest in the digital media sector (which grew 300% during that period to surpass $600 billion), is reportedly joining the new A&M unit in October.
According to its website, A&M has $5.9 billion in assets under its management and has a significant relationship with the private equity sector. It offers various services tailored to private equity players’ needs, and Malik’s move is interpreted as a sign that A&M will pitch its services, including due diligence and integration strategies, such as recommending restructures and exit plans.
Data from WY Partners shows private equity firms were involved in 149 deals during the last quarter (a 55% increase from Q1 2024). Sources point to recent macroeconomic trends such as internet rate cuts and Google’s expected breakup after its current antitrust trial as reasons to expect a spur in mergers and acquisitions in the sector in the coming months.
Between 2020 and 2023, private equity firms significantly increased their involvement in the ad tech sector, with examples including Apollo’s $5 billion purchase of Yahoo, Vista Equity Partner’s $1.4 billion purchase of TripleLift and Bridgepoint’s billion-dollar deal with MiQ.
According to sources, the trend toward private equity involvement in the sector was further driven by favorable market conditions, such as the lack of IPOs from mid-2021 onward, plus challenging macroeconomic factors, which made M&A an attractive growth strategy.
A&M is not the only firm that has sought the expertise of digital experts. M&A advisory practice Landmark Ventures procured the services of Tom Triscari earlier this year, and market observers have suggested that agency holding groups could be the subject of such activity.
According to Digiday sources, this includes the prospect of Madison Avenue titans operating as acquirers — as exemplified by the recent Publicis Groupe purchase of Mars United Commerce — and potentially becoming acquisition targets.
Earlier this year, separate sources, who requested anonymity due to commercial sensitivities, told Digiday that WPP, the industry holding group enduring an extended run of financial hardship, may be subject to a breakup whereby individual entities within the agency holding group are sold off or it is outright taken off the public markets.
https://digiday.com/?p=556430
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