Omnicom to acquire Flywheel Digital from Ascential for $835M

Omnicom announced it has agreed to acquire Flywheel Digital, the digital commerce business of Ascential, for a net cash purchase price of approximately $835M. Flywheel’s services enable top brands to sell more goods more efficiently across hundreds of digital marketplaces, such as Amazon, Walmart, and Alibaba. These services are reinforced by their advanced technology platform, Flywheel Commerce Cloud, which delivers near real-time insights to improve decision-making and boost sales. Flywheel will operate as a Practice Area within Omnicom and will be led by Duncan Painter who currently serves as CEO of Ascential. The acquisition is expected to close in the first quarter of 2024 and is subject to Ascential shareholder approval, regulatory approvals, and customary closing conditions.