Co-founded in 2007 by James Aitken and Tim Webster, The Exchange Lab has approximately 130 employees working in offices in London, New York, Chicago, Singapore, and Toronto, serving 700 clients, including Virgin Holidays, Volkswagen, A&W, Glasses Direct and Vue Entertainment.
With the acquisition, Aitken will step down from his role as CEO to pursue outside investment interests, the companies said. Exchange Lab Executive Chairman Chris Dobson will take the role of CEO, working closely with Webster who continues as Chief Strategy Officer.
In May, GroupM Interaction was rebranded Connect, an expanding operation that brought most of the company’s digital biddable media operations into alignment excluding Xaxis, but including search, social, mobile, and programmatic buying units.
As part of the realignment, GroupM specialist agencies, including Catalyst, Quisma, Keyade, H1, Blazar and Outrider, were brought under the worldwide management of GroupM Connect.
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