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GroupM Buys The Exchange Lab
WPP's global media investment arm GroupM has acquired programmatic digital media specialist The Exchange Lab, which offers a range of targeting and retargeting solutions, including device-based and geotargeting. Terms of the deal were not disclosed.
 The company's flagship 'Proteus' trading and intelligence platform evaluates more than a billion audience interactions every day to look at buying patterns, enable personalized content to be delivered across every platform, and give brands a complete view of the market. WPP says the integration of Proteus into Connect, GroupM's platform for biddable and real-time media, will further aid the measurement and allocation of marketing budgets across any and all programmatic partners, including GroupM's own proprietary media properties.
The Exchange Lab employs around 130 people working in offices in London, New York, Chicago, Singapore and Toronto; and had revenues for the year ended 31st December 2014 of £21.4m. Following the acquisition, CEO and co-founder James Aitken will leave to 'pursue outside investment interests'. His role will be taken by Executive Chairman Chris Dobson, working closely with co-founder Tim Webster (pictured), who will continue as Chief Strategy Officer.
Dobson will report to Rudiger Wanck, Global CEO of Connect, who comments: 'Adding The Exchange Lab's talent and proprietary technology accelerates our development and directly benefits the clients of GroupM's agencies. Likewise, GroupM's unparalleled scale and innovative media partnerships will terrifically enhance The Exchange Lab's client services'.
Web sites: www.wpp.com , www.groupm.com and www.theexchangelab.com .
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