Omnicom Group is in the process of buying a majority stake in digital marketing firm Areteans to help marketers with their expertise in digital transformation and customer experience. As per the announcement, the acquisition will expand Credera, which specializes in digital and customer relationship management (CRM). However, the terms of the dealweren't disclosed yet.
Areteans, founded in 2015, has more than 600 employees worldwide. It uses technology such as CRM software from Pegasystems to help marketers find and retain customers and improve their digital marketing and e-commerce capabilities. Some of the famous customers of Areteans include Unilever, Macquarie Group, and QBE Insurance Group.
The planned acquisition of Areteans, is expected to close in the second quarter. Areteans's expertise in real-time interaction management (RTIM) and CRM can help Omnicom broaden its services to marketers."We believe that technology skills in RTIM and decisioning are critical components of modern marketing, and the addition of Areteans to our group will help us meet our goals of creating innovative solutions and meaningful results for our clients," said Luke Taylor, the CEO of Omnicom Precision Marketing Group.
The planned acquisition of Aretreans comes a week after Omnicom Health Group, whose brands also manage drug and healthcare industries, bought Archbow Consulting. With these acquisitions, Omnicom aims to rebuild itself after a difficult year for the advertising industry. Omnicom's revenue declined 12% to $13.17 billion last year, while its profit plunged 29% to $945.4 million, according to its annual report.