Modern Formula, a full-service media agency, agreed to merge with Pivot CMO, an elite-performance marketing solutions company. Financial terms were not disclosed. "We took a hard look at the evolution of performance marketing and what brands need to win in a post iOS world. What we saw was that the old tricks were no longer working, so we needed to evolve with changing consumer behavior and business needs. What is needed in this new marketing environment is fewer siloed solutions and more full-funnel strategies that balance the best of brand marketing, while keeping true to the principals of a power performance approach. This is the Modern Formula. We call it the 'Bold and Sold Philosophy," Zihla Salinas, Modern Formula CEO.