Advertising giant WPP buys majority stake in digital media buyer Essence
A sign of the times? Ad giant WPP announced this morning it had bought a majority stake in Essence, a London-based digital media buyer.
In a statement this morning, WPP said Essence, which was founded in London in 2005 and manages media spend of more than $700m (£453m), "blends data science, objective media and captivating experiences to build valuable connections between brands and consumers".
Its clients include the likes of Google, the recently-divided Hewlett-Packard, free calls app Viber and Tesco Mobile.
It's another suggestion WPP is putting further emphasis on its digital brands. Last year its digital businesses made $6.9bn, more than a third of the company's total revenues.
In recent months it has shown signs of experimenting with digital formats, most notably forming a "supergroup" ad agency with the Daily Mail and Snapchat, aimed at creating social content.
Earlier this year it was linked with Tesco's Clubcard marketing arm, Dunnhumby, but the supermarket later decided not to sell the company.