GroupM acquires programmatic marketing solutions company, The Exchange Lab
18 December, 2015
WPP announces that GroupM, the leading global media investment management group, has acquired The Exchange Lab.
The Exchange Lab is a programmatic marketing solutions company and has developed 'Proteus', a proprietary technology that enables a complete view of all programmatic channels and partners. The integration of Proteus within Connect, GroupM's worldwide consolidated agency services platform across biddable and real time media, will further aid the efficient and objective measurement and allocation of marketing budgets across any and all programmatic partners, including GroupM's own proprietary media properties.
Founded in 2007, The Exchange Lab employs around 130 people working in offices in London, New York, Chicago, Singapore and Toronto, serving 700 clients this year. These include Virgin Holidays, Volkswagen, A&W, Glasses Direct and Vue Entertainment.
The Exchange Lab's revenues for the year ended 31 December 2014 were £21.4 million, with gross assets of £11.5 million as at the same date.
This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors and strengthening its digital capabilities. WPP's digital revenues were US$6.9 billion in 2014, representing 36% of the Group's total revenues of US$19 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next five years.
Collectively, WPP's media investment management businesses, which include GroupM, generate worldwide revenues over US$5 billion (including associates).
Feona McEwan, WPP Tel. + 44(0) 20 7408 2204
Chris Wade, WPP