WPP has confirmed the acquisition of the entire issued share capital of Okam Limited, the holding company of the Salmon Group.
Founded in 1989, Salmon provides digital consulting, design, delivery and support services to leading retail, wholesale and manufacturing brands including the likes of Game, Halfords, Kiddicare, and Selfridges.
Under WPP Salmon will continue to operate as an independent stand-alone brand led by CEO Neil Stewart. The deal means Salmon is now in a position to partner with the rest of WPP to broaden its offer and develop business internationally.
Of the takeover Stewart commented: “Our partnership with WPP will help fuel the next stage of our evolution into a global full-service digital delivery agency. We are delighted to be able to do this whilst preserving Salmon’s independent culture and maintaining our focus on serving our clients.”
Salmon’s consolidated unaudited revenues for the year ending 31 October 2012 were £34.3 million, with gross assets at the same date of £11.3 million. The acquisition furthers WPP’s strategy of developing its services in fast-growing markets and sectors as well as strengthening it digital capabilities.
Sir Martin Sorrell, WPP CEO, added: “The application of technology to marketing continues to accelerate, not least in the retail market and success requires close collaboration between our clients’ marketing and sales organisations and their IT organisation.
“Close collaboration between Salmon and WPP’s other agencies will allow WPP to bring clients a tightly-integrated solution across both marketing and technology and help both the CMO and CIO deliver customer-centric multi-channel solutions – yet another example of where CMO and CIO have to work together.”