Benzinga | Apr 19, 2021 09:32AM EDT

Omnicom's Credera Acquires Areteans; Terms Not Disclosed

Credera, a consulting firm focused on strategy, transformation, data and technology, today announced it has agreed to acquire a majority stake in Areteans, a leading global services and solutions company, to extend its depth in digital transformation, digital marketing and ecommerce capabilities. Credera is part of Omnicom Precision Marketing Group (OPMG), the digital and customer relationship management specialist practice area within Omnicom Group Inc. (NYSE: OMC).

Areteans specializes in the design, delivery, and implementation of real-time interaction management (RTIM) and digital customer relationship management (CRM). The company serves some of world's biggest brands across banking, insurance, consumer products, telecom, and government and has a presence in Australia, India, New Zealand, Singapore, and the UK. Areteans will retain its brand, culture, and values and will continue to be led by the founding team of CEO Mahesh Agrawal, Chief Technology Officer Sidhartha Mohanty, Executive Vice President of Technology Sanjeev Singh, and Global Head of Sales Subhakanta Mishra as well as its current executive management.

"Areteans brings a depth of expertise that enables meaningful customer experiences," said Justin Bell, president and CEO of Credera. "Together, Credera, Areteans, and the broader Omnicom network of companies provide a comprehensive strategy of creating meaningful experiences for our clients' customers. As a part of Credera's growth strategy, we will continue to invest in organizations that enhance digital transformation and customer experience."

"Areteans is ready to take the next step of growth in partnership with Credera and Omnicom," said Mahesh Agrawal, founder and CEO of Areteans. "We desired a strategic partner with the right cultural fit who can accelerate our reach and vision globally. Together, we can create compelling value propositions for our clients, bringing innovative solutions from idea conception to downstream execution."

"We are continuously evolving our approach for serving our clients and enabling world-class experiences for their customers," said Luke Taylor, CEO of Omnicom Precision Marketing Group. "We believe that technology skills in RTIM and decisioning are critical components of modern marketing, and the addition of Areteans to our group will help us meet our goals of creating innovative solutions and meaningful results for our clients."

The transaction is expected to close in the second quarter.