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|Lowe and Partners Announces Acquisition of Global Digital Network Profero|
Agency to Operate as Lowe Profero
Wayne Arnold Named Global CEO, Reporting to Michael Wall
London 21st January 2014: Lowe and Partners, a division of Interpublic Group (NYSE: IPG), today announced the acquisition of the global digital network Profero. The agency will be called Lowe Profero and will be fully integrated into the Lowe and Partners network, serving as its global digital offering. Lowe and Profero have previously worked together on shared clients including Danone, Diageo, PwC and Unilever's OMO and TRESemmé. The current management team from Profero will lead the Lowe Profero unit, reporting to Michael Wall and the Lowe and Partners Leadership Team. Co-founder Wayne Arnold will serve as Global CEO of Lowe Profero.
All Profero offices will rebrand to Lowe Profero and initially, the two networks will focus on building a fully integrated offer in five key global locations: Australia, China, Singapore, UK and the U.S. Near-term plans include extending the Lowe Profero brand into additional growth markets. Existing Lowe offices in these five initial markets will continue to exist as is, with co-location to occur in certain markets, notably the U.S.
Michael Roth, Chairman and CEO of Interpublic, commented: "Embedding digital talent and capabilities throughout our organization has been a key strategic priority for IPG. With the launch of Lowe Profero, Michael Wall and Tony Wright, along with Wayne, are putting that approach into action. The opportunities for the new network are tremendous. Coming into this deal, both agencies bring exceptional operations in high-growth markets; they have a strong track record of successful collaboration on major digital assignments; and the leadership teams have great chemistry with one another that clients can feel. We couldn't be more excited about this news."
Profero, co-founded in 1998 by Wayne Arnold, specializes in digital advertising, media and marketing solutions and has offices in Australia, China (Shanghai and Beijing), Japan, Korea, Hong Kong, Singapore, UK and the U.S. The agency has been named in the Advertising Age "A-List," and has received numerous awards, including "Best in Mobile" from the Mobile Marketing Association for OMO, "Best Travel App" for its work with Barclays Bikes from Mobile effectiveness awards and BIMA's agency of the year.
Profero's clients include global marketers like Unilever, ASOS, Diageo, Marks and Spencer and Western Union, in addition to many local market clients. Profero is known for ground-breaking work including the Smirnoff Night Life Exchange, a complex global initiative, innovations like The Marks and Spencer Blooming QR code and world class responsive web platforms for ASOS, Duty Free Shopping and Vogue.
Michael Wall, CEO of Lowe and Partners commented: "This is a major development for Lowe and Partners and builds on our recent momentum with the successful introduction of Lowe Campbell Ewald in the U.S and the opening of a new office in NY. In launching Lowe Profero, we are significantly enhancing our global digital capabilities - a critical step that will drive forward our strategy of building a contemporary and creatively differentiated network for our clients."
Wayne Arnold, Global CEO of Lowe Profero said: "This is an important and exciting next step for both of our teams. We have invested a lot of time and thought into bringing this new network to fruition. We know each other well, we work together seamlessly and we both believe in and understand the benefits of a complementary and integrated advertising and digital offering. Digital sits at the core of all future advertising. That's what Lowe Profero will deliver globally for our clients, giving us a highly relevant and distinctive position in the agency network market."
Terms of the transaction were not disclosed.
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About Lowe and Partners
We like building powerful ideas that engage the many, not the few. It's the greatest service we can offer a client, creating an enduring, popular idea that solves a business problem, crosses channels and changes behavior on and offline. We call our ability to shape and share engaging ideas Populist Creativity.
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Tom Cunningham (Interpublic Press)
Jerry Leshne (Analysts, Investors)