Emakina Group

Emakina Group was a Belgian advertising and digital communications group built around agencies specializing in digital strategy, design, marketing, technology, media, e-commerce, websites, applications and integrated communication campaigns. The group was headquartered in Brussels and developed an international network with operations across Europe, as well as offices or agency activity in markets including India, Saudi Arabia, Qatar, Singapore, Turkey, the United Arab Emirates and the United States. The group was formed in 2001 through the merger of Ex Machina and Emalaya. Ex Machina had been established as a digital design studio by Brice Le Blevennec, while Emalaya was an e-business agency founded by Denis Steisel in 1998. At the time of the merger, the two businesses together had approximately 35 employees. This combination gave Emakina an early position at the intersection of creative communication, digital experience design and e-business services. Emakina expanded both organically and through acquisitions. One of its notable transactions was the purchase of The Reference in 2007. The Reference, founded in 1993 and based in Ghent and Antwerp, added established digital agency capabilities and later had a New York presence. In 2016, Emakina's agency network also included activity in the United States through The Reference. In February 2018, the group acquired New York digital agency Karbyn in a cash transaction reported at US$500,000. The group was publicly traded on the Alternext segment of Euronext Brussels from 2006 under the symbol ALEMK. It reported sales of EUR 77.3 million for 2016, according to the referenced company history. Its client work included digital and communication projects for organizations such as Audi, AXA, Brussels Airlines, Deutsche Bank, Education Above All, Engie Electrabel, the Fédération Internationale de Volleyball, Karl Lagerfeld, Lufthansa, Parrot, Rituals and Segway. The group and its agencies also received awards for work in digital marketing, websites, e-commerce, applications and communication campaigns, including projects associated with BIC, My Way and Jaeger-LeCoultre. In December 2021, U.S.-based digital transformation and technology services company EPAM Systems acquired Emakina Group. The acquisition ended Emakina's independent corporate existence as a listed group and brought its agency capabilities into EPAM's broader digital transformation services organization. Because the reference material does not provide a current standalone operating structure, Emakina Group is best treated as an acquired and no longer independently active corporate brand rather than as a current listed company.

Emakina Group emerged from the convergence of two Belgian digital businesses. Ex Machina began as a digital design studio founded by Brice Le Blevennec, while Denis Steisel established the e-business agency Emalaya in 1998. In 2001, the two companies merged to form Emakina. The combined organization initially had approximately 35 employees and was positioned to serve the growing need for digital design, online business development and technology-enabled communications. During the 2000s, Emakina developed from a Belgian agency into a broader agency group. A significant step was its acquisition of The Reference in 2007. Founded in 1993, The Reference was based in Ghent and Antwerp and brought additional experience in digital agency work. Its later New York activity helped extend Emakina's reach beyond Europe. The group subsequently operated through a network of agencies and offices serving clients in multiple European countries and selected markets in Asia, the Middle East and North America. Emakina entered public markets in 2006, when it was listed on the Alternext segment of Euronext Brussels under the ticker ALEMK. Its business model combined creative and communication services with digital strategy, website and application development, e-commerce, marketing and media. Subsidiaries identified in the group's reference history included Emakina itself, The Reference, the Belgian marketing agency Your Agency, and Robert & Marien, a Brussels media agency focused on media strategy and buying. The group reported EUR 77.3 million in sales for 2016. Its international footprint by this period included agencies or operations in Austria, Croatia, France, India, Poland, Qatar, Saudi Arabia, Serbia, Singapore, Sweden, Switzerland, Turkey, the United Arab Emirates and the United States, in addition to Belgium and the Netherlands. Emakina's work covered digital projects and communication programs for clients including Audi, AXA, Brussels Airlines, Deutsche Bank, Education Above All, Engie Electrabel, the Fédération Internationale de Volleyball, Karl Lagerfeld, Lufthansa, Parrot, Rituals and Segway. Acquisition remained part of the group's expansion strategy. In February 2018, Emakina acquired the New York digital agency Karbyn in a cash deal reported at US$500,000. The transaction reinforced the group's North American presence and added another digital agency to its international network. Emakina and its agencies received recognition for digital marketing, website, e-commerce, application and communication work. The reference material identifies awarded projects connected with clients such as BIC, My Way and Jaeger-LeCoultre, and notes that the group was elected Horizon Interactive Agency of the Year. These awards reflected Emakina's positioning around the combination of creative communications and digital execution rather than conventional media advertising alone. The final major corporate turning point was EPAM Systems' acquisition of Emakina Group in December 2021. EPAM, a U.S.-based digital transformation and technology services company, absorbed the Belgian agency group into its larger organization. This transaction ended Emakina's independent status as a listed corporate group. The available reference material does not establish a current standalone Emakina corporate structure, executive team or financial reporting profile after the acquisition.

1. 2021Acquisition by EPAM Systems

   EPAM Systems acquires Emakina Group, ending its independent listed-company status.

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2. 2018Karbyn is acquired

   The group acquires New York digital agency Karbyn.

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3. 2016Reported sales reach EUR 77.3 million

   Emakina Group reports sales of EUR 77.3 million for the year.

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4. 2007The Reference joins the group

   Emakina acquires The Reference, expanding its Belgian digital agency capabilities.

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5. 2006Public listing on Alternext Brussels

   Emakina Group is listed on the Alternext segment of Euronext Brussels under the symbol ALEMK.

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6. 2001Emakina is formed

   Ex Machina and Emalaya merge to create Emakina, initially combining approximately 35 employees.

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7. 1998Emalaya is founded

   Denis Steisel starts Emalaya as an e-business agency.

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8. 1993The Reference is founded

   The Reference, later acquired by Emakina, is established in Belgium as a digital agency.

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An international digital agency group combining creative communication, digital experience, marketing, technology and media capabilities for corporate and institutional clients.

• Digital communication and advertisingCommunication services2001

  Emakina's core offering covered integrated communication and advertising programs with a strong digital component. The group worked across strategy, creative development, campaign execution and digital customer experience for corporate and institutional clients. Its agency model combined communication expertise with design and technology capabilities.

• Digital experiences, websites and applicationsDigital agency services

  The group designed and built websites, online platforms and applications. These services linked user experience and interface design with development, content and digital strategy. They formed a central part of Emakina's work for brands seeking customer-facing digital channels and interactive experiences.

• E-commerce and digital marketingMarketing technology services

  Emakina provided e-commerce and digital marketing services as part of its broader digital transformation offer. The work included online commercial experiences, digital customer journeys and marketing programs designed to connect communications with measurable digital interactions.

• Media strategy and buyingMedia services

  Through Robert & Marien, the group offered media strategy and media buying from its Brussels operation. This capability complemented Emakina's creative and digital services by providing planning and purchasing expertise across media activities.

• 2021Acquisition by EPAM SystemsM&A

  Emakina had developed an international digital communications network, while EPAM Systems was expanding its digital transformation and technology services capabilities.

  What changed. EPAM Systems acquired Emakina Group in December 2021.

  Aftermath. Emakina ceased to operate as an independent listed group and became part of EPAM Systems' broader organization.

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• 2018Acquisition of KarbynM&A

  Emakina sought to strengthen its presence in the United States and expand its international digital agency network.

  What changed. The group acquired New York digital agency Karbyn in a cash transaction reported at US$500,000.

  Aftermath. Karbyn added a New York-based agency capability to Emakina's international operations.

  Reported acquisition consideration. US$500,000 cash consideration (February 2018)

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• 2001Formation through the merger of Ex Machina and EmalayaM&A

  The two Belgian businesses brought together digital design and e-business capabilities at a time when online services were becoming increasingly important to brands and organizations.

  What changed. Ex Machina and Emalaya merged to establish Emakina.

  Aftermath. The merger created the foundation for an agency group that later expanded internationally and through further acquisitions.

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• 2021Emakina Group is acquired by EPAM Systems

  EPAM Systems acquired Emakina Group, bringing the Belgian digital communications agency group into its digital transformation services business.

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• 2018Emakina Group acquires Karbyn

  Emakina Group acquired New York digital agency Karbyn in a cash transaction reported at US$500,000.

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• 2016Emakina Group reports 2016 sales of EUR 77.3 million

  The group reported sales of EUR 77.3 million for 2016, illustrating the scale it had reached before its later acquisition by EPAM Systems.

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1. Emakina Group