The purchase deal for Invnt closed in late July, and no terms were disclosed. Invnt has been in business since 2008, and was acquired by Time Inc in 2015.
After the deal between Cullather, McCoobery and Time Inc, Invnt is once again an independent agency, and will aim to create engaging brand experiences for its clients and audience.
Invnt will retain its name, and will continue service its existing clients. The agency will also remain in its current head quarters of New York City, with satellite offices strategically located in London and in a number of other key US locations.
Scott Cullather, CEO of Invnt, said: "We are excited to begin the next chapter of the INVNT story as an independent, strategically-focused creative and production agency, specializing in live brand storytelling. As the media landscape continues to change, we believe that ‘live’ is the most potent form of engaging audiences today. The best direction for INVNT is to be a private, independent agency, and we are very excited for what the future holds."
Kristina McCoobery, chief operating officer of Invnt, said: "As a company and culture, INVNT has always lived by its 'Challenge Everything' mantra and ethos; we attract restless, curious, independent thinkers who are inspired by working alongside other INVNTrs to challenge the status quo. We look forward to deepening our commitment with our existing clients, and introducing new clients to our unique perspective and approach to the business of brand communications."
More: Earlier this week, Exterion Media announced the launch of its experiential arm, offering complete management of experiential campaigns across transport, retail, urban, sports and entertainment.
Also this month, Clive opened its new Dublin office, creating three new positions with additional roles planned for later this year.
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