Digital marketing firm The Exchange Lab acquired by WPP
Deal marks second exit for the Business Growth Fund within the technology media and telecommunications sector
The Exchange Lab, a ‘programmatic marketing solutions’ company, has been acquired by “world-leading” advertising and marketing services firm WPP for an undisclosed sum – marking a successful exit for investor the Business Growth Fund (BGF).
Founded in 2007 by James Aitken and Tim Webster, The Exchange Lab creates targeted marketing campaigns across a range of devices and channels and claims to evaluate a billion audience interactions a day.
The company received £5m of growth capital from the BGF in November 2013 to support the development of its proprietary programmatic buying technology.
The acquisition will see The Exchange Lab’s team and technology become part of WPP parent company GroupM.
The deal represents a second high-profile exit for the BGF within the technology, media, and telecommunications space following the acquisition of Unruly by Murdoch’s News Corp in September.
Chris Dobson, CEO of The Exchange Lab said: “The synergies between The Exchange Lab and GroupM create a powerful and compelling offering for clients and we are excited about taking this next step.”
“We enjoyed tremendous support from BGF over the past two years and we could have happily continued our growth plans with their backing.
“At the same time, they have wholly supported our decision to progress to the next stage of our development as part of WPP’s GroupM, the world’s leading media investment management group.”