Seller
Emerald Tyre Manufacturers Limited
Buyer
McKinsey & Company
Focus Sector
digital marketing operations and technology
McKinsey & Company has acquired ET Medialabs (ETML), a performance marketing and analytics agency based in India. This acquisition enhances McKinsey’s Digital Marketing Operations and Technology (DMOT) capabilities, aiming to improve performance and return on investment (RoI). With ETML onboard, McKinsey will now have over 200 digital marketing professionals—including analysts, performance marketers, and data scientists—spread across Asia and Latin America.
Rajat Dhawan, Managing Partner of McKinsey India, stated that this move builds a “critical strategic muscle” combining digital marketing expertise, tech-enabled capabilities, and a modern operating model. He emphasized that the acquisition supports McKinsey India’s vision of creating high-performance teams and growth platforms.
McKinsey’s partnership with ETML began two years ago. Since then, they’ve conducted 20 pilot tests for more than 15 clients across India, Thailand, Indonesia, and Japan. Eunjo Chon, Senior Partner at McKinsey Seoul, highlighted the immediate impact seen from ETML’s efforts—results typically expected only after 6–12 months.
ETML brings with it a proprietary tool based on over a decade of work, drawing from more than 100 analytics frameworks, machine learning models, and ad experiments. Their platform enables cross-platform monitoring, ad waste reduction, and campaign optimization—cutting digital ad spend time by 66% and campaign impact time by 62%.
Targeting scale-ups, unicorns, and multinationals, ETML helps brands grow by aligning deeply with customer needs. Companies that prioritize this level of customer insight are growing 28% faster than their peers.
McKinsey emphasized that today’s marketing success demands a new blend of capabilities—digital strategy, technology, and operating model transformation. Vincent Cremers, a senior partner leading McKinsey’s Growth, Marketing & Sales Practice, noted that ETML strengthens McKinsey’s ability to deliver rapid, measurable client impact.
Sudipto Paul, another partner in the practice, added that this integration will empower McKinsey to better help clients maximize digital investments, personalize customer engagement, and unlock long-term growth.
Engaging Khetal Advisors was the best decision I made during this entire process. As a first-time founder navigating an emotional and complex M&A, I had limited understanding—but Khetal’s expertise guided me every step of the way. Shashwat, your strategic brilliance and empathy were game-changing. You went beyond the role of an advisor, offering guidance, support, and founder-level insight that made all the difference. Ashish, your persistence and sharp focus kept everything moving forward—I appreciated your drive and timely push at every stage. Vinayak, your dedication and work ethic were unmatched. Your early starts and consistent effort truly impressed me. To the entire team: thank you for having my back. Your support gave me the confidence to navigate this journey successfully.

Mr. Raghav Kansal
(Founder & CEO) ETML & McKinsey
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