• Omnicom Acquires Flywheel Commerce Cloud from Ascential for $900 Million, Expanding Digital Marketplace Capabilities

    Omnicom Acquires Flywheel Commerce Cloud from Ascential for $900 Million, Expanding Digital Marketplace Capabilities

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    Omnicom has acquired the digital commerce business Flywheel from Ascential for $900 million. The Flywheel Commerce Cloud platform, which manages ad spend across digital marketplaces such as Amazon, Walmart, and Alibaba, will be integrated with Omnicom’s existing Omni data business

    Duncan Painter, the CEO of Ascential, will join Omnicom to lead Flywheel, while Philip Thomas will take over as CEO of Ascential, which will now focus primarily on events. Additionally, Ascential is selling its WGSN online fashion platform to Apax Partners for up to $700 million, providing a significant return for Ascential shareholders.

    Omnicom CEO John Wren noted that global ecommerce sales are expected to grow by 50%, reaching approximately $7 trillion by 2025. He emphasized that the acquisition of Flywheel will greatly enhance Omnicom’s presence in the rapidly expanding digital commerce and retail media sectors, which are among the fastest-growing in the industry. The combined offerings will integrate retail and brand media, digital and in-store commerce, and CRM, aiming to deliver superior results for clients.

    Ascential may also be considering selling its highly profitable Cannes Lions and other event businesses.