| FOR IMMEDIATE RELEASE | 8 February 2024 |
WPP PLC ("WPP")
WPP invests in new German agency OH-SO Digital
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.
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.
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.
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.
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."
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."
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."
ENDS
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