WPP PLC (LSE:WPP) said it acquired UK technology company Cloud Commerce Group (CCG), which helps brands globally to advertise, sell, and deliver their products across e-commerce platforms.
The CCG platform, which helps power over £1bn in gross merchandise value per year, supports hundreds of wholesalers and retailers to complete transactions on marketplaces like Amazon.com, Inc. (NASDAQ:AMZN), eBay and Etsy (NASDAQ:ETSY).
With this level of annual transactions CCG “has demonstrable scale and success in managing the complex omnichannel commerce needs of global brands,” said Mark Read, chief executive of WPP.
WPP said the acquisition, its fourth of the year, reinforces its accelerated growth strategy and predominantly focussed M&A approach, which the company intends to utilise to broaden its capabilities across commerce, technology, and experience.
“I'm excited about how CCG's expertise will further strengthen the breadth and depth of our commerce offering to deliver growth for our clients,” added Read.
CGG, which has over 100 employees throughout Europe, will join the Wunderman Thompson global network to strengthen its commerce and technology proposition.
WPP has acquired over 80 companies across its 50 years of operating, mostly under previous boss Sir Martin Sorrell.