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TOP NEWS: WPP acquires US digital transformation agency Fenom Digital

5th Jan 2023 14:45

(Alliance News) - WPP PLC on Thursday reported that it acquired Fenom Digital, a New Jersey-based digital transformation agency, for an undisclosed sum.

Fenom Digital will join WPP's marketing communications agency Wunderman Thompson and is expected to help client growth across major digital routes.

The announcement follows other recent Wunderman Thompson acquisitions, including Montreal-based commerce agency Diff and Dutch e-commerce consultancy Newcraft.

These have further strengthened the firm's overall digital commerce capabilities and reflect the company's ongoing investment into its commerce offering, WPP explained.

The London-based advertising and communications company did not disclose the financial details of the Fenom Digital acquisition.

Chief Executive Mark Read said: "Expanding our business in high-growth commerce areas continues to be a high priority for WPP as we enter 2023. The Fenom team brings a proven track record of success paired with deep industry expertise and I'm delighted to welcome them to WPP."

Shares in WPP were up 0.4% at 857.20 pence on Thursday afternoon in London.

By Heather Rydings, Alliance News senior economics reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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