WPP creates Addison Group merger after acquisition of corporate communications company The Group
WPP has acquired corporate communications company The Group and will merge it with its own corporate communications specialist, Addison, to create the Addison Group.
Acquisition: WPP has acquired The Group
Founder of The Group, Mark Hill, will become chairman of the new consultancy and it will employ around 120 people with expected revenues of £12m. Addison chief executive Tom Robinson will continue as CEO.
The acquisition adds to WPP’s recent majority stake in Hong Kong digital consultancy Designercity and minority stake in social media analytics business SecondSync.
M&A consultants, Results International, advised on the deal. Manager Julia Crawley-Boevey said: “WPP has made very few acquisitions in the UK in recent times so it’s purchase of The Group is an interesting one.
“Like each of the networks, WPP is on a mission to future-proof its business and building its digital offer plays a vital role in doing this. The Publicis Omnicom merger was definitely about that.
“With Sir Martin Sorrell knocked unceremoniously from his number one position we can be sure he will be looking at every possible opportunity to build his empire.”
WPP has digital revenue targets of 40-45 per cent over the next five years and said the acquisition was part of its commitment to strengthening digital capabilities.
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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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