WPP's GroupM Takes Majority Stake in Essence Digital
As expected,
WPP's GroupM is adding Essence Digital to its agency
portfolio. Essence's standing as one of Google's key agency partners
drove the deal.
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Essence employs 500 staffers and manages $700 million in media spending
for brands across 70 markets worldwide. Along with Google, its roster
includes eBay, Hewlett-Packard, Viber and Tesco, among others.
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WPP reported nearly $17 billion in digital revenue in 2014, about 36
percent of the company's total, and wants to blast past 40 percent in
the next five years. Snapping up Essence represents another move toward
achieving that goal, and represents the latest in a line of digital
moves by WPP that also include the June acquisition of data-driven
digital marketer Greenhouse Group, and, just two weeks ago, a global
alliance with cloud-solutions specialist Acquia.
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