Omnicom isn’t recognized for splashing the money (though the founders of adam&eve would possibly demur) nevertheless it has now: $900m for Cannes Lions proprietor Ascential’s Flywheel digital commerce enterprise.
The Flywheel Commerce Cloud platform manages adspend throughout quite a few digital marketplaces together with Amazon, Walmart and Alibaba. It is going to be mixed with Omnicom’s present Omni knowledge enterprise.
Ascential CEO Duncan Painter will be a part of Omnicom and run Flywheel. Cannes Lions boss Philip Thomas turns into CEO of Ascential, now primarily occasions. Ascential can also be promoting its WGSN on-line style platform to Apax Companions for as much as $700m, that means a double bonus for Ascential shareholders.
Omnicom CEO John Wren says: “Ecommerce gross sales worldwide are set to extend by 50%, reaching about $7tn by 2025. The acquisition of Flywheel considerably broadens our attain and affect within the quickly increasing digital commerce and retail media sectors, two of the fastest-growing components of the business.
“Collectively, we’ll seamlessly combine our choices throughout retail and model media, digital and in-store commerce, and CRM, in the end delivering superior outcomes for our shoppers.”
Ascential could now be entertaining provides for the vastly worthwhile Cannes Lions and its different occasions.
