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Omnicom Group confirms IPG acquisition, to create ‘premier marketing, sales company’

by Teddy Cambosa

-

December 9, 2024

Omnicom Group confirms IPG acquisition, to create ‘premier marketing, sales company’

Singapore – Omnicom Group has confirmed that its board of directors have unanimously approved a definitive agreement pursuant to which Omnicom will acquire Interpublic Group (IPG in a stock-for-stock transaction. This officially confirms earlier media reports of the advertising giant acquiring another of its rivals.

The combined company will bring together the industry’s deepest bench of marketing talent, and the broadest and most innovative services and products, driven by the most advanced sales and marketing platform. Together, the companies will expand their capacity to create comprehensive full-funnel solutions that deliver better outcomes for the world’s most sophisticated clients.

Omnicom reports that new company will have over 100,000 expert practitioners. The company will deliver end-to-end services across media, precision marketing, CRM, data, digital commerce, advertising, healthcare, public relations and branding.

Moreover, Interpublic shareholders will receive 0.344 Omnicom shares for each share of Interpublic common stock they own. Following the close of the transaction, Omnicom shareholders will own 60.6% of the combined company and Interpublic shareholders will own 39.4%, on a fully diluted basis. The transaction is expected to generate annual cost synergies of $750m.

In terms of the leadership, John Wren will remain chairman & CEO of Omnicom while Phil Angelastro will remain EVP & CFO of Omnicom. Meanwhile, Philippe Krakowsky and Daryl Simm will serve as co-presidents and COOs of Omnicom, with Krakowsky also being co-chair of the Integration Committee post-merger. 

Three current members of the Interpublic Board of Directors, including Philippe Krakowsky, will be welcomed to the Omnicom Board of Directors.

John Wren, chairman & CEO of Omnicom, said, “This strategic acquisition creates significant value for both sets of shareholders by combining world-class, highly complementary data and technology platforms enabling new offerings to better serve our clients and drive growth.”

He added, “Through this combination, we are poised to accelerate innovation and harness the significant opportunities created by new technologies in this era of exponential change. Now is the perfect time to bring together our technologies, capabilities, talent and geographic footprints to bring clients superior, data-driven outcomes. We are excited to welcome Philippe and the entire Interpublic team to the Omnicom family.”

Meanwhile, Philippe Krakowsky, CEO at Interpublic, commented, “This combination represents a tremendous strategic opportunity for our stakeholders, amplifying our investments in platform capabilities and talent as part of a more expansive network. Our two companies have highly complementary offerings, geographic presence and cultures. We also share a foundational belief in the power of ideas, enabled by technology and data. By joining Omnicom, we are creating a uniquely comprehensive portfolio of services that will make us the most powerful marketing and sales partner in a world that’s changing at speed. We look forward to working with John and the entire Omnicom team.”

Related Tags Advertising Acquisition Merger Interpublic Group Omnicom
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