WPP shares dipped 1.9% to 729.5p in early morning trading on Thursday, after the group announced its acquisition of Dutch ecommerce consultancy company Newcraft for an unspecified price.
The creative transformation firm said the acquisition would provide access to business opportunities for its global clients, including Ahold Delhaize, Pon Holdings, Yakult and JDE Peet’s.
According to WPP, Newcraft “supports organisations in realising change, reaching growth targets and mastering digital capabilities.”
The business employs 155 staff, and will join the Wunderman Thompson global network to complement its commerce and marketing services in Northern Europe.
“We are very excited to start this new chapter. When we look back at the past 15 years, we’re extremely proud of the strong company we’ve created: we’ve built very talented teams; a dynamic and open culture; and an impressive track record with our clients,” said Newcraft director and founder Martijn Haanappel.
“By joining WPP and the Wunderman Thompson network we have found the perfect match to start the next phase of our growth ambition. Combining our digital acceleration capabilities with Wunderman Thompson’s market-leading commerce expertise will undoubtedly lead to amazing opportunities for both our people and clients.”
WPP confirmed the acquisition would strengthen its digital commerce capabilities as part of its ongoing growth strategy, reflecting the company’s investments into its commerce offer for clients to evolve with consumer needs.
“With consumer behaviours and use of new ecommerce channels continuing to change at a rapid pace, brands need innovative solutions to reach customers and new audiences,” said WPP CEO Mark Read.
“As we continue to invest in growth areas, Newcraft’s extensive experience of transforming the digital offering of some of Europe’s leading companies will further strengthen our global commerce proposition and drive results for clients.”
The marketing group currently manages $40 billion in direct and $20 billion in marketplace GMV for clients, and employs 13,500 commerce specialists across its agencies.