The new addition’s clients include Tesco (Xetra: 852647 – news), for which Sorrell earlier this year finally won the planning contract, as well as the Financial Times, Google, HP (NYSE: HPQ – news) and Viber.
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From its headquarters in London, and offices in Tokyo, Singapore, New York, Seattle and San Francisco, Essence combines data science and insights with media expertise to build connections between brands and consumers.
WPP today confirmed that it has acquired a majority stake in Essence, which was founded a decade ago, and now ranks as the largest independent buyer of digital media.
“Essence has a proud history of using technology, data and transparent media buying to advance the digital advertising industry”, said Christian Juhl, CEO, Essence.
Observers say the move makes sense for both sides and, from WPP’s point of view, snapping up Essence appears to strengthen its relationship with Google.
GroupM is the leading global media investment management company serving as the parent to WPP media agencies including Mindshare, MEC, MediaCom, and Maxus, each global operations in their own right with leading market positions. Essence however is a fast-growing company, with 500 staff doing digital and programmatic buying across multiple geographies.
As expected, WPP’s GroupM is adding Essence Digital to its agency portfolio.
“It is reported to be Google’s main global digital agency – one can imagine there was a lot of interest in the business”.
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WPP’s digital revenues were $6.9 billion in 2014, representing 36 per cent of a total revenue of $19bn.
