17th Dec 2019 09:30
(Alliance News) - Bruin Sports Capital on Monday said it has agreed to buy Two Circles, the data analytics unit of FTSE 100-listed ad agency WPP PLC.
Upon completion of the transaction, WPP will continue to hold a minority stake in Two Circles, Bruin said, which will allow Two Circles' clients to continue to have unrivaled access to WPP, its global network, and its brand clients.
Terms of the agreement were not disclosed and subject to regulatory approval.
"With Bruin's backing, experience, and relationships in global sport, we have the perfect platform to enter the next phase of commercial growth – both for our clients and as an agency," said Two Circles Co-Founder and Chief Executive Gareth Balch.
Two Circles has been affiliated with Bruin, since 2017, serving as the marketing arm for OverTier, a venture created by Bruin to operate National Football League Game Pass, the American football league's premium subscription service.
WPP shares were trading 0.2% higher in London on Tuesday at 1,033.50 pence each.
By Evelina Grecenko; [email protected]
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