Omnicom Group has bought a majority stake in management and technology consulting services company Credera, marking the holding company’s first acquisition in this space.
The acquisition will further strengthen the capabilities of digital and CRM specialist unit Omnicom Precision Marketing Group (OPMG).
Credera focuses on martech and ecommerce platforms and has direct access to the C-suite – similar to consultancies, like Accenture and Deloitte, which have been slowly encroaching on the traditional advertising landscape.
"Credera offers management consulting, user experience and technology solutions that help companies drive complex change programs and improve business operations," said Luke Taylor, CEO of OPMG.
Taylor also told Campaign US that Credera will help Omnicom "set and define the marketing transformation opportunity on behalf of its client" and allow OPMG to enhance its ability to "deliver personalized experiences across all touchpoints at scale."
Headquartered in Dallas, Texas, Credera has been in business since 1999 and has about 300 employees. The company works with the likes of National Geographic and Southwest Airlines. Credera CEO and Chairman Rob Borrego will continue to lead the company.
Omnicom recently reported that revenue was up 2 percent to $3.9 billion in the second quarter of 2018, but revenue in North America, its largest region, was down 0.9 percent in Q2 to $2.1 billion.
On the Q2 earnings call, Omnicom CEO John Wren said: "We are continuing to evaluate our portfolio of companies to optimize our service and service capabilities in line without our strategic plans. As part of this process, we are making internal investment in our agencies and in new capabilities and pursuing several acquisition opportunities, particularly in the areas of data, analytics, digital transformation and precision marketing."
Sourced from Campaign - Written by Lindsay Stein