Toronto-based Mindblossom is a full service digital company offering creative, media planning, search marketing and website development services.
The agency, which was founded in 2001, has gross assets worth US$2.3m (£1.1m) with a total of 45 employees.
Mindblossom will become part of Aegis Media Canada and the Isobar global network.
Robert Lerwill, chief executive of Aegis, said: "The importance of digital communications is taking off in Canada, as elsewhere. This acquisition ensures we have a leading position in a market set for rapid growth.
"Mindblossom has a comprehensive offering and a record of success for major brands. Combined with Isobar's international reach as the world's leading digital network, our proposition to clients in Canada will be compelling."
Following the acquisition of Genesis Media at the start of this month, the acquisition of Mindblossom further strengthens Aegis Media's position in the Canadian market.
Genesis, which is one of Canada's largest independent media agencies, offers CRM, digital, direct marketing and data analytics services to a range of clients. It has reported gross assets of around US$16.2m.
Aegis's rival WPP Group also bought a Canadian digital company last month, acquiring interactive agency Blast Radius for an undisclosed sum.
The Vancouver-based agency specialises in customer experience, social media and marketing strategy services. It has a range of major clients including Nike, Whirlpool and Starbucks.