Omnicom buys digital commerce enterprise Flywheel for $900m

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Omnicom isn’t recognized for splashing the money (though the founders of adam&eve may demur) however it has now: $900m for Cannes Lions proprietor Ascential’s Flywheel digital commerce enterprise.

The Flywheel Commerce Cloud platform manages adspend throughout various digital marketplaces together with Amazon, Walmart and Alibaba. It will likely 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, finally delivering superior outcomes for our shoppers.”

Ascential might now be entertaining provides for the vastly worthwhile Cannes Lions and its different occasions.

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