WPP’s Grey has acquired its second app developer and design company in as many weeks. The latest deal: the purchase of The Lathe, a healthcare app specialist that becomes part of GreyHealth Group. Terms weren’t disclosed.
The agreement to acquire The Lathe follows last week’s deal by Grey to buy San Francisco-based ArcTouch, a broader based mobile app developer that will become a standalone unit within Grey’s Brand Experience Group.
Founded in 2003, The Lathe is based in New York with about 20 staffers. It services clients including Bayer, Roche and Health Brand Group, among others. Seth Perlman is president.
The companies said that The Lathe will continue to work independently with its clients and also begin to work in conjunction with ghg’s application development team to jointly build solutions for select ghg clients.
Lynn O’Connor Vos, CEO, ghg, said The Lathe has "pioneered innovative mobile solutions in chronic and rare disease for many major pharmaceutical companies. Together, we will create novel solutions for key health stakeholders."
Last year, The Lathe generated revenues of about $4 million, according to WPP.