Syracuse, N.Y. — The Butler/Till marketing agency in Rochester has acquired the Digital Hyve agency in Syracuse.
Butler/Till said Thursday Digital Hyve will retain its brand and become a wholly owned subsidiary of Butler/Till. Kimberly Jones, who was appointed president and CEO of Butler/Till in 2020, will serve as president and CEO of the combined agency.
The agency said the acquisition makes Butler/Till one of the largest independent marketing and media agencies in the country, with more than 250 employees.
Digital Hyve founders Jeff Knauss and Jake Tanner will stay with the agency at least until the end of the year to ensure a smooth transition, said Amanda DeVito, vice president of marketing and growth for Butler/Till.
Knauss, 35, and Tanner, 30, founded Digital Hyve as a digital marketing firm in 2014, with just themselves as employees. Since then, the agency has grown rapidly and now has 56 employees. In 2018, Inc. magazine ranked the agency 52nd on its Inc. 5000 list of the nation’s fastest-growing private companies.
Knauss said he first contacted Jones for advice on how to launch an employee stock ownership plan at Digital Hyve. Founded by Sue Butler and Tracy Till in 1998, Butler/Till has been 100% employee-owned since 2014. Knauss said he became interested in launching a similar plan at Digital Hyve because it was a way to reward his employees for their work.
During the discussions, Butler/Till offered to acquire Digital Hyve. Knauss said he and Tanner accepted the offer because if provided the fastest way for their employees to become company owners.
“We wanted to give back to the people who helped to build Digital Hyve into what it is today,” said Knauss.
The sale also gives the two founders the opportunity to pursue other interests.
Tanner and his wife launched an e-commerce business, Unplugged Gaming, in November, selling collectible card games online.
Knauss said he plans to continue his practice of serving as an angel investor to business startups, and serving as a business consultant and doing public speaking. And he hasn’t ruled out starting another business, saying he still has that “entrepreneurial itch.”
Rick Moriarty covers business news and consumer issues. Got a tip, comment or story idea? Contact him anytime: Email | Twitter | Facebook | 315-470-3148
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