Omnicom Media Group has sold its media barter operation Icon International to Icon’s management team. Terms weren’t disclosed.
Founded in 1986, Icon has been led CEO John Kramer for 20 years. Kramer orchestrated the sale of the company to Omnicom in 2003.
The agency specializes in trading corporate assets for advertising and paid media.
The holding company said the sale of Icon is part of Omnicom's normal management and evaluation of its portfolio of businesses.
The sale is not expected to have a material impact on Omnicom’s operating income for the full year 2021.
Going forward, the company said its M&A activity will be primarily focused on acquisition opportunities in precision marketing, martech and digital transformation, as well as commerce, media and healthcare.