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WPP buys e-commerce software provider Cloud Commerce
(Alliance News) - WPP PLC on Tuesday said it has acquired Lancaster-based e-commerce software provider Cloud Commerce Group Ltd for an undisclosed sum.
Shares in the marketing and advertising agency were down 1.1% at 1,049.25 pence on Tuesday morning in London, in line with the wider FTSE 100 index.
Cloud Commerce provides software to retailers, allowing them to market and sell products through several marketplaces including Amazon, Etsy and eBay, while also managing stock control, warehouse inventory and shipping.
Collectively, the platform has around GBP1 billion per annum in gross merchandise value running through its various integrations.
Cloud Commerce will become part of WPP's Wunderman Thompson network. The deal reflects the group's continued investment into its commerce offering.
"Clients look to WPP to help them market, sell and fulfil across multiple e-commerce channels and marketplaces. With over GBP1 billion revenue transacting through its platform, Cloud Commerce Group already has demonstrable scale and success in managing the complex omni-channel commerce needs of global brands," said Chief Executive Officer Mark Read.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Latest WPP News
- WPP CFO Rogers to be replaced by Britvic finance boss Wilson
8 Nov 2022 - IN BRIEF: WPP appoints Britvic's Wilson as CFO after Rogers resigns
8 Nov 2022 - WPP taps Britvic's Joanne Wilson for CFO
8 Nov 2022 - WPP CFO Rogers to be replaced by Britvic finance boss Wilson
8 Nov 2022 - LONDON BROKER RATINGS: Liberum cuts British Land; Exane cuts Sainsbury
4 Nov 2022 - Berenberg lowers target price on WPP
4 Nov 2022 - LONDON BROKER RATINGS: Kepler Cheuvreux starts Haleon at 'hold'
27 Oct 2022 - LONDON BRIEFING: Shell back in black; Lloyds income growth "robust"
27 Oct 2022
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