Omnicom Group Inc.’s OMC Clemenger Group, through its Clemenger BBDO unit, completed the acquisition of the majority stake in Levo Digital. Clemenger Group is majority owned by Omnicom through its BBDO advertising agency network.

With offices across Australia and New Zealand, Levo Digital specializes in marketing services and technology business. Levo Digital helps companies to take to digitalization by providing them with marketing technology and tools, specializing in marketing automation and e-commerce platforms.

The Levo Digital brand name will be retained and the business will be headed by its founders, Callum Hoogesteger and Craig Roberts, even after the buyout.

The deal will see the integration of Levo Digital’s marketing technology and tools into Clemenger’s existing digital and data capabilities. The two companies are already working with each other for a significant number of clients. The new deal further raises optimism about the upcoming growth opportunities for both.

The combined entity is expected to set standards in the industry with its potential to accelerate business transformation. Overall, the combination is also expected to further boost the advertising and marketing service offerings of Omnicom.

Zacks Rank & Stocks to Consider

Currently, Omnicom carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the broader Business Services sector include Genpact Limited G, WEX Inc. WEX and Broadridge Financial Solutions, Inc. BR. All the stocks carry a Zacks Rank #2 (Buy).

The long-term expected EPS (three to five years) growth rate for Genpact, WEX and Broadridge is 10%, 15% and 10%, respectively.

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Omnicom Group Inc. (OMC): Free Stock Analysis Report
 
WEX Inc. (WEX): Free Stock Analysis Report
 
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Genpact Limited (G): Free Stock Analysis Report
 
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