Interpublic has acquired a stake in The Famous Group, an experiential technology company based in Los Angeles.
IPG didn’t disclose the size of the stake or any other financial terms, but it is understood that the company took a significant minority stake with an option to expand its investment. It did say that with the deal The Famous Group would be aligned with the holding company’s experiential marketing agency Momentum Worldwide.
While The Famous Group will work with agencies and other units across IPG to create interactive and immersive experiences for clients and media partners, it will retain its current branding and the ability to work independently with its own clients.
Founded in 1997, the company develops technology for mixed and augmented reality experiences for live events. It has worked with organizations such as the NFL, NBA, Nike, Verizon and others.
IPG CEO Philippe Krakowsky said the investment would enable the holding company to “accelerate the pace at which we move to deliver the next generation of live events, with scalable technology platforms and a deeper connection to our data resources and capabilities.”
The Famous Group is led by Jon Slusser, Partner and CEO. Some of the firm’s previous work can sampled here.