UK financial services specialist media agency Ptarmigan has been bought by Omnicom. Ptarmigan has 150 staff, mainly in London but also New York and APAC with billings of over £125m.
The price is undisclosed but Ptarmigan makes about £4m in annual profit so the price will be substantial.
Shareholders Matt Ball, Tim Jones and Matt Woodford will keep minority shares. Founder David Wiggin sold to the current management in 2022.
CEO Ball says: “Ptarmigan has always put clients at the centre of everything we do — and becoming part of Omnicom Media Group continues that commitment.
“Combining our expertise with the scope and scale of Omnicom Media Group’s industry leading tools and technology will have an exponential impact on the value we deliver to the world’s leading financial brands, bringing next level purpose, planning and performance to the challenge of connecting our clients to the world’s financial decision-makers.”