Omnicom Group Inc. (NYSE: OMC) yesterday announced it has agreed to acquire Flywheel Digital, the digital commerce business of Ascential plc (LSE: ASCL.L), for a net cash purchase price of approximately $835 million.
Flywheel is a provider of digital commerce services, including retail commerce operations, media execution, and market intelligence. The company has a workforce of over 2,000 professionals and serves over 4,500 brands.
The acquisition of Flywheel expands Omnicom's digital commerce capabilities and positions the company to capitalize on the rapidly growing e-commerce market. E-commerce sales worldwide are expected to reach $7 trillion by 2025, according to Omnicom.
Flywheel was founded in 2014 by Duncan Painter, who currently serves as CEO of the company. Painter is a veteran of the digital commerce industry, with over 20 years of experience in leadership roles at companies such as Amazon and Google.
Flywheel is headquartered in New York City and has offices in over 20 countries around the world, including the United Kingdom, Germany, France, China, Japan, and Australia.
Flywheel's key services
- Retail commerce operations: Flywheel helps brands manage their product listings, inventory, pricing, and fulfillment across hundreds of digital marketplaces.
- Media execution: Flywheel helps brands plan and execute their digital advertising campaigns across all major channels,including search, social, and display.
- Market intelligence: Flywheel provides brands with insights into their market share, competitor performance, and customer behavior.
Flywheel's mission is to help brands "sell more goods more efficiently across hundreds of digital marketplaces." The company's vision is to be the "leading digital commerce partner for the world's top brands."
Company's clients include some of the world's largest and most successful brands, such as Unilever, Procter & Gamble, and Nestlé.