8 Feb 2024 08:00
Â
Â
FOR IMMEDIATE RELEASE | 8 February 2024 |
Â
WPP PLC ("WPP")
Â
WPP invests in new German agency OH-SO Digital
Â
WPP today announces it has acquired a minority stake through a capital investment in OH-SO Digital, a new digital-first agency launching on 1 March.
Â
The agency aims to revolutionise how brands deploy digital marketing as a key driver for growth, using innovative creative solutions that are customer-centric and powered by the latest tech developments. OH-SO Digital will partner with clients to combine marketing, commerce and technology to co-create digital products, platforms and software.
Â
Founded by industry veteran Mattes Schrader, the agency's founding leadership team comprises digital experts with experience from agencies including Accenture Interactive, Accenture Song, C3 and Diconium. OH-SO Digital will initially launch in Hamburg and Prague, with further planned outposts in Berlin and Munich.
Â
The strategic investment is part of WPP's ongoing targeted M&A strategy which focuses on the key growth areas of commerce, experience and technology. The partnership with OH-SO Digital will further strengthen WPP's digital offer in Germany, complementing existing capabilities that help clients drive growth as the needs of consumers continue to evolve.
Â
Mark Read, CEO of WPP, said: "We're excited to support the ambition of OH-SO Digital to provide brands with ideas that leverage technology to deliver transformative growth. Our long-term commitment is clear: to position OH-SO Digital as an important growth partner for our clients in Germany, our third largest market."
Â
Frank-Michael "FM" Schmidt, President of WPP in Germany, said: "We are delighted to be expanding WPP's tech and consulting offering in Germany with Mattes Schrader and his high-calibre management team. Retaining the best minds, developing customised models and supporting entrepreneurial initiatives are cornerstones of our future strategy. With the establishment of OH-SO, we are implementing these principles in a way that - in combination with the excellent competences of other WPP agencies - offers a new quality of consulting and implementation services for German and international clients."
Â
Mattes Schrader, Founder and CEO of OH-SO Digital, said: "In the last decade, digitisation hasn't boosted most companies' market shares, leaving many trailing. At the same time, marketing decision-makers are increasingly responsible for sales and technical platforms in addition to communication channels. As traditional lines blur between communication, sales, products, and services, GenAI introduces a novel dynamic at every level. This offers an extraordinary chance to craft radical new solutions, positioning the marketing function as the critical growth engine."
Â
ENDS
Â
Further information
+44 (0)20 7282 4600
press@wpp.com
Â
About WPP
WPP is the creative transformation company. We use the power of creativity to build better futures for our people, planet, clients and communities. For more information, visit www.wpp.com.
Â
Â