WPP: makes acquisition in e-commerce
(CercleFinance.com) - WPP announced on Tuesday that it has acquired the British firm Cloud Commerce Group (CCG), in a deal that will strengthen its e-commerce business.
Based on its in-house software platform, CGG helps about a hundred brands to distribute their products on marketplaces such as Amazon, eBay and Etsy.
The platform - which generates the equivalent of 1 billion pounds in value of goods sold (GMV) each year - is compatible with many accounting systems, payment technologies and logistics networks, WPP says.
The British communications giant did not specify the terms of the deal, merely stating that CGG currently has about 100 employees.
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