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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
- LONDON BROKER RATINGS: HSBC lifts WPP to Buy, cuts Wizz Air to Reduce
13 Dec 2021 - LONDON MARKET OPEN: Strong start for European stocks; Capita tumbles
13 Dec 2021 - WPP buys majority stake in branding and design agency Made Thought
6 Dec 2021 - LONDON MARKET PRE-OPEN: Victrex declares special dividend; LSEG buys
6 Dec 2021 - WPP acquires majority stake in Made Thought
6 Dec 2021 - WPP buys ecommerce platform CCG
30 Nov 2021 - UPDATE 2-Shares in Sorrell's S4 slump on future investment plans
10 Nov 2021
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WPP buys majority stake in branding and design agency Made Thought
WPP buys majority stake in branding and design agency Made Thought
LONDON MARKET PRE-OPEN: Victrex declares special dividend; LSEG buys
LONDON MARKET PRE-OPEN: Victrex declares special dividend; LSEG buys
WPP acquires majority stake in Made Thought
(Sharecast News) - Media company WPP said on Monday that it has acquired a majority stake in branding and design agency Made Thought for an undisclose...
WPP buys e-commerce software provider Cloud Commerce
WPP buys e-commerce software provider Cloud Commerce
WPP buys ecommerce platform CCG
(Sharecast News) - WPP said it has bought UK-based technology company Cloud Commerce Group (CCG) for an undisclosed sum.
UPDATE 2-Shares in Sorrell's S4 slump on future investment plans
* Q3 profit growth up 42%* Says to invest in growth* Shares down 10% (Adds shares, reaction)By Kate HoltonLONDON, Nov 10 (Reuters) - Martin Sorrell's...
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