WPP's GroupM buys The Exchange Lab

WPP’s media investment management business, GroupM, has acquired programmatic marketing solutions company The Exchange Lab for an undisclosed sum.

The Exchange Lab has developed Proteus, which is a proprietary technology that enables a complete view of all programmatic channels and partners.

WPP said the integration of Proteus within Connect, GroupM's worldwide consolidated agency services platform across biddable and real time media, will further aid the efficient and objective measurement and allocation of marketing budgets across any and all programmatic partners, including GroupM's own proprietary media properties.

The Exchange Lab, which has offices in the UK, the US, Singapore and Canada, had revenues for the year ended 31 December 2014 of £21.4m, with gross assets of £11.5m.

“This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors and strengthening its digital capabilities.”

At 1422 GMT, WPP shares were down 1.1% to 1,513p.