WPP Buys IEG
WPP Group has bought sponsorship consultancy IEG, Inc. to round out its media-management services.
IEG becomes part of GroupM division, WPP’s media arm that includes Mediaedge:cia, MindShare, MediaCom and MAXUS. Terms were not disclosed.
IEG co-founders Lesa and Laren Ukman become chairman and CEO, respectively, of IEG, which retains its name and its Chicago headquarters. IEG’s staff is expected to remain with the agency.
IEG’s expertise in research and analytics appealed to GroupM as it ratchets up non-traditional media measurement and pursues work outside traditional media.
“IEG’s ability to transform sponsorship from an intangible expense to a measurable investment is spot-on with GroupM’s commitment to increasing the productivity of client expenditures through integrated, channel-neutral communications,” said Mediaedge:cia Executive Chairman Charles Courtier in a statement on behalf of GroupM North America.
The firm’s pioneering IEG Valuation Service was the first tool designed to measure the fair market value of sponsorship. Marketers have used it to evaluate 1,000-plus tie-ins from major media events like the FIFA World Cup and X Games to non-profits, including the AARP and World Wildlife Fund. IEG also consults with 5,000 organizations seeking sponsors, such as the NFL and American Heart Association, as well as corporations including Verizon Wireless and General Motors.
