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Omnicom, the world’s second-largest marketing holding company, is acquiring the digital commerce division of Ascential for $835 million (£688 million). This includes cloud-based ecommerce division Flywheel.
Last week, 11 Ascential digital commerce brands were integrated into Flywheel under a new entity. Ascential chief executive Duncan Painter will join Omnicom and lead the new division going forward as CEO.
The digital commerce platform allows retail clients to monitor and measure their ecommerce performance in near-real time, with the goal to improve sales and market share.