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A unit of global communications services conglomerate WPP, Xaxis, has acquired St. Petersburg-based digital ad firm Triad Retail Media, one of the largest privately held companies in the region.
Terms of the deal weren't disclosed.
Xaxis bought Triad, with $502 million in sales in 2015, from Rockbridge Growth Equity, which acquired majority ownership of Triad in 2013. Rockbridge's managing partner is Dan Gilbert, founder and chairman of Quicken Loans and owner of the NBA's Cleveland Cavaliers.
“We've been connecting brands and retailers for more than a decade with our innovative solutions,” says Triad CEO Roger Berdusco in the statement. “With our digital retail media expertise, Xaxis' world-class technology platform and WPP's worldwide network of brands — we're all better together.”
Greg Murtagh, the Business Observer's 2014 Entrepreneur of the Year, founded Triad in 2004. Triad's niche is in working with large retailers on building and improving digital ad campaigns, including websites, apps and overall user experience. Clients include Wal-Mart, eBay, CVS, Sam's Club, Staples and Kohl's, according to the statement. Triad has 700 employees spread across 14 global offices. Its headquarters is in the Carillon Office Park.
“Triad has played a pioneering role in the development of digital retail media as a compelling ad channel where both retailers and brands are aligned in delivering a positive experience that drives shopper response,” Xaxis CEO Brian Gleason says in a statement.
Xaxis has offices worldwide and a North American headquarters in New York City. WPP is based in London.
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