WPP’s global media investment management group GroupM has acquired London-headquartered marketing solutions agency The Exchange Lab.
Financial terms of the acquisition were not disclosed.
The Exchange Lab, which has about 130 employees in offices in London, New York, Chicago, Singapore, and Toronto, will be integrated into GroupM’s global digital platform Connect, formerly known as GroupM Interaction. A statement released by GroupM stated that The Exchange Lab will henceforth operate as an “agnostic business layer within Connect, while also continuing to service clients independently.”
The Exchange Lab was founded in 2007 by James Aitken and Tim Webster. Webster will remain onboard in his current role as chief strategy officer. Executive Chairman Chris Dobson will assume the role of CEO, succeeding Aitken, who is leaving the company. Dobson will report to Connect global CEO Rudiger Wanck.
GroupM in November appointed Brian Lesser CEO of operation in the U.S. and Canada.
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