WPP boss Sir Martin Sorrell confirms interest in Tesco data unit Dunnhumby
WPP chief executive Sir Martin Sorrell has admitted that his firm is “interested” in acquiring the Tesco's data department Dunnhumby.
In response to yesterday’s (Monday 16 March) speculation that WPP is prepping a sweep for the company, Sorrell comfirmed he is indeed interested in acquiring Dunnhumby, at the Enders Analysis conference in London, according to Business Insider.
Sorrell stated he is keen to gain access to the company’s data on brands which he said was sometimes better than the information the brands have on themselves.
With Tesco keen to shift the data business as part of its cost-cutting measures, the WPP head stated that the acquisition would help expand the company beyond its “legacy” business in the ad industry.
Dunhumby has been valued at as much as £2bn as the firm previously masterminding Tesco’s Clubcard membership scheme.
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WPP
WPP plc is a British multinational communications, advertising, public relations, technology, and commerce holding company headquartered in London, England. It was...
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Tesco
Tesco plc, trading as Tesco, is a British multinational grocery and general merchandise retailer with headquarters in Welwyn Garden City, Hertfordshire, England,...
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