WPP Grabs Digital Agency Giant AKQA
Holding co. does not appear to be slowing down in its quest to buy digital firms across the globe.
Holding co. does not appear to be slowing down in its quest to buy digital firms across the globe.
If it wasn’t already clear that massive holding company WPP aims to own the digital marketing space, it should be now. The firm has purchased AKQA, reportedly the largest independent digital agency in the U.S. if not the world.
The announcement comes as throngs of ad industry elite are camped out in the seaside city of Cannes, France for the annual Cannes Lions awards extravaganza.
WPP is among the most acquisitive firms in the digital arena. In the past few years it has scooped up a handful of Brazil-based digital agencies, web analytics, and design agencies in Europe, and invested in several other digital services companies. It also owns Blue State Digital, the agency that handled web development, data services, and other digital work for President Barack Obama’s 2008 campaign and continues that work for his current re-election campaign.
In August of last year WPP snagged Rockfish Interactive, an Arkansas-based digital shop. The company also offered to buy Brooklyn’s Big Spaceship for $12.5 million this March, according to a ClickZ source close to the situation.
With all that digital expertise under its belt, it comes as no surprise WPP’s digital revenue is growing. In January, the firm said digital revenues reached 30 percent of its overall $16 billion haul. That was up from 25 percent in 2009.
AKQA expects to rake in around $230 million this year, up from $189 million last year. The agency specializes in social media, mobile, interactive, and related digital work for clients such as Delta, Google, Nike, Target, and Unilever. The firm has 1,160 people on staff with offices in San Francisco, New York, Washington, D.C., London, Paris, Amsterdam, Berlin, and Shanghai.
Subject to regulatory approval, AKQA Holdings, once officially acquired, will operate as a standalone entity. Founder and CEO Ajaz Ahmed and chairman Tom Bedecarre will carry on in current leadership roles.
WPP appears to be planning more digital investments. Also as part of the deal, WPP named Bedecarre president of WPP Ventures, a division dedicated to sniffing out additional investment opportunities, based in Silicon Valley.
More about:
Lucy helps organizations leverage knowledge for in... View Tech Talk
TVSquared is the global leader in cross-platform T... View Tech Talk
Grata is a B2B search engine for discovering small... View Tech Talk
Streaming has become a staple of US media-viewing ... Download Now
Data is the lifeblood of so many companies today. ... Download Now
This report documents the findings of a Fireside c... Download Now
Customers decide fast, influenced by only 2.5 touc... Download Now
Streaming has become a staple of US media-viewing habits. Streaming video, however, still comes with a variety of pesky frustrations that viewers are ...
View resourceData is the lifeblood of so many companies today. You need more of it, all of which at higher quality, and all the meanwhile being compliant with data...
View resourceThis report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. It provides expert insight on how companies can ret...
View resourceCustomers decide fast, influenced by only 2.5 touchpoints – globally! Make sure your brand shines in those critical moments. Read More...
View resourceThe recent partnerships between Publicis, WPP and Tencent shows the Chinese internet giant is serious about moving into the global spotlight and maint...
View articleClickZ Live San Francisco is an August staple (right?) but this year, we've made a few changes you'll love, like the new format and the brand new even...
View articleBusiness consulting companies are scaling back their digital arms by aggressively hiring creative talent and acquiring agencies. Will they displace co...
View articleThe global partnership will provide GroupM’s and WPP’s agencies and clients with access to BuzzFeed’s creative and data assets for the first time. Rea...
View articleIn her address at ClickZ Live Hong Kong, WPP China head Bessie Lee debunks the big myths of China 's e-commerce landscape. Read More...
View articleTruffle Pig, the partnership between Snapchat, WPP, and Mail Online, had everyone talking at Cannes. CEO Alexander Jutkowitz tells ClickZ Truffle Pig'...
View articleAccording to a new Millward Brown Digital study, 42 percent of marketers consider big data this year's top priority - however, only 14 percent are con...
View articleThree of the largest names in marketing have partnered to create Truffle Pig, a tri-party content-led media agency. Read More...
View article