WPP shares were down 0.6% to 814.4p in early morning trading on Thursday following the company’s reported acquisition of marketing technology firm Bower House Digital for an unspecified consideration.
WPP confirmed it had agreed to acquire the Australian company in a move to strengthen its technology-driven marketing solutions for its clients.
The group highlighted that Bower House Digital’s specialisation in Salesforce Marketing Cloud Solutions aligned with WPP’s accelerated growth strategy and M&A approach to build on existing digital experience capabilities.
The firm designs, builds and deploys digital experiences for clients including Aesop, Bunnings, Bupa, Target and Myer.
“Companies are seeking one integrated communications solution that combines creativity, technology and data,” said WPP Australia and New Zealand president Rose Herceg.
“Bower House Digital’s knowledge in marketing technology will further strengthen our digital expertise in Australia and New Zealand. I’m excited to welcome the Bower House Digital team and clients to WPP.”
Bower House Digital currently operates across Australia and the Asia-Pacific sector with 80 employees and was founded in 2017 by Bryan Dobson and Meg Quinn.
“Joining WPP and Ogilvy’s global network represents the next stage in our growth. We are so proud of what our company has achieved, the culture we have created and the team we have assembled over the past five years,” said Dobson and Quinn.
“Fusing our digital marketing knowledge with the creative powers of Ogilvy will build even bigger and better opportunities for our people and clients.”