In what likely is the first in an array of divestitures, WPP this morning announced it has sold sponsorship marketing database, publisher and consultant IEG and its related properties to sports and entertainment marketing agency, Engine Shop.
Terms of the deal were not disclosed, but WPP originally acquired IEG in 2006 and integrated it into its GroupM division and created the ESP entertainment and sports marketing practice at that time.
Engine Shop is a Bruin Sports Capital company, and today’s announcement represents the latest in its aggressive global expansion.
“IEG’s proprietary services and events have made brands smarter for more than three decades. These are difference-making resources, and we are going to build on that with more tools, platforms and bold thinking to serve the industry at a time when the industry craves well-synthesized data to make the best, most effective decisions,” Brian Gordon, Engine Shop CEO, said in a statement.
IEG will operate as an autonomous affiliate of Engine Shop and continue to be headquartered in Chicago.