Marketing services firm Accenture Interactive, a subsidiary of Accenture Plc (ACN) agreed to acquire the New York-based creative agency for an undisclosed amount. This acquisition is expected to help Accenture Interactive’s focus on building a new agency model that will strengthen its brand thinking and creativity. The closing of acquisition is subject to customary closing conditions, including antitrust clearance.
Founded in 2009, Accenture Interactive provides end-to-end marketing solutions to its clients and help them in design, digital marketing as well as digital content production and operations.
Droga5, which was founded in 2006 by David Droga, has got more than 500 employees in New York and London. The creative agency has recently created ads for Amazon Prime Video, Tourism Australia, The New York Times, IHOP and Game of Thrones’ epic Super Bowl surprise. Droga5 partners with brands such as Chase, Prudential, Kraft, Hershey, Hennessy and Under Armour.
Also read: Accenture Q2 2019 earnings results
Upon closing of this deal, Droga will continue in his role as creative chairman of Droga5, Sarah Thompson will continue as global CEO and Bill Scott will remain as UK CEO, with the rest of the agency’s management team.
“We’re excited to work with David Droga and his team of brand strategists and creative minds to further our ambition to improve the full human experience with brands,” said Brian Whipple, global CEO of Accenture Interactive.
“Accenture Interactive is one of the most disruptive forces in the industry, and we have always been a safe space for audacious ideas. I’m confident they are the best partner to grow our business and provide greater opportunities for our clients and our people,” said David Droga, the founder of Droga5.
Accenture Interactive’s revenue stands at $8.5 billion for its fiscal year 2018, which ended on August 31, 2018. The acquisition of Droga5 is Accenture Interactive’s biggest acquisition since its inception. In early March, Accenture Interactive acquired Danish creative agency Hjaltelin Stahl and on March 15, the company acquired Netherlands-based digital marketing service agency Storm Digital.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard