WPP buys Triad Retail Media

Media agency WPP’s wholly-owned operating company Xaxis has agreed to buy US digital retail media specialist Triad Retail Media for an undisclosed sum.

Triad – whose clients includes Walmart, eBay, Kohl’s, Toys R Us and Asda Stores – generated gross revenues of more than $500m for the year ended 31 December 2015, with net revenues of $120m.

Triad fuels mobile and desktop e-commerce by enabling large retailers to turn their websites and apps into valuable advertising platforms, providing marketers with the ability to reach and engage consumers as they shop online.

WPP said “the deal will establish Xaxis as a significant player in the fast-growing retail media and e-commerce market while providing Triad with access to Xaxis' technology expertise and the resources and client base of WPP”.

The FTSE 100 company said the acquisition continues its strategy of focusing on three key areas that differentiate the group's offering to clients: technology, data and content.

At 1400 BST, WPP shares were down 0.8% to 1,805.31p.