J. Walter Thompson Acquires iStrategyLabs
- by Radu Cotarcea
On August 2, WPP has announced that its wholly owned marketing communications agency, J. Walter Thompson, has agreed to acquire iStrategyLabs.
The target, iStrategyLabs, is a full service digital agency in the US with a net revenue of USD 12.4 million as of December 31, 2015. Founded in 2007 and based in Washington, D.C., its clients include Kroger, Medtech, and USA Network.
In its press release, WPP, which also owns digital agencies AKQA, Blue State Digital, F.biz in Brazil, Mirum, POSSIBLE, Rockfish, VML, and Wunderman, stated the "acquisition continues WPP's strategy of investing in key sectors, such as digital, and important markets such as the US." In the US, WPP companies (including associates and investments) collectively generate revenues of over USD 7 billion and employ over 25,000 people.