GroupM in Talks To Acquire Essence Digital
November 02 2015 - 2:55PM
Dow Jones News
By Suzanne Vranica
GroupM, the ad buying giant owned by WPP PLC, is nearing a deal
to acquire Essence Digital, according to people familiar with the
matter.
Terms weren't available
Essence, which is based in London and has offices in the U.S.
and Asia, buys over $700 million worth of digital media annually.
The agency is one of the largest independent buyers of digital
ads.
Over the past several years, Essence has added new areas of
expertise and bulked up in the U.S. by acquiring agencies in the
social media and mobile space.
In 20013, its acquired Point Reach, a mobile agency based in
Seattle. Essence's clients include Google, Visa and Electronic
Arts.
Essence is the latest digital target for WPP, which has been on
an aggressive shopping spree buying up digital agencies, data
providers and companies in emerging markets over the past few
years.
Last week, WPP said it had completed 38 transactions during the
first nine-months of 2015.
Write to Suzanne Vranica at suzanne.vranica@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 02, 2015 14:40 ET (19:40 GMT)
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