Groupm Acquires Programmatic Marketing Tech Company
Groupm, the global media investment management group part WPP, has acquired The Exchange Lab, a programmatic marketing solutions company, and its proprietary technology, 'Proteus', which enables a complete view of all programmatic channels and partners. The integration of Proteus within Connect, Groupm's worldwide consolidated agency services platform across biddable and real time media, is believed to further aid the efficient and objective measurement and allocation of marketing budgets across any and all programmatic partners, including Groupm's own proprietary media properties. Founded in 2007, The Exchange Lab employs around 130 people working in offices in London, New York, Chicago, Singapore and Toronto, serving 700 clients this year. These include Virgin Holidays, Volkswagen, A&W, Glasses Direct and Vue Entertainment. This investment continues WPP'S strategy of developing its services in fast-growing and important markets and sectors and strengthening its digital capabilities. WPP'S digital revenues were US$6.9 billion in 2014, representing 36% of the Group's total revenues of US$19 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next five years.