Omnicom Group Announces Divestiture of ICON International
Omnicom Group (NYSE: OMC) announced the sale of ICON International to its management team as part of a strategic portfolio realignment. Chairman & CEO John Wren expressed gratitude to ICON’s team while noting the sale's minimal impact on Omnicom's 2021 operating income. The company plans to focus on acquisition opportunities in precision marketing, martech, and digital transformation, limiting future disposition activity. The announcement falls in line with Omnicom's ongoing strategic priorities to enhance its business operations.
- Sale of ICON International aligns with Omnicom's strategic portfolio realignment.
- The sale is not expected to materially impact Omnicom's operating income.
- None.
NEW YORK, June 11, 2021 /PRNewswire/ -- Omnicom Media Group, a subsidiary of Omnicom Group (NYSE: OMC), today announced the sale of ICON International, a specialty media company, to ICON's management team. The sale of ICON is part of Omnicom's continuing realignment of its portfolio of businesses and is consistent with its strategic plan and investment priorities.
Commenting on the disposition, John Wren, Omnicom's Chairman & CEO said, "I want to thank the management team and employees of ICON for their years of commitment to Omnicom and wish them continued success."
The disposition is not expected to have a material impact on Omnicom's ongoing operating income for the full year 2021. Going forward, the company's anticipated level of disposition activity is expected to be limited, and it expects to be principally focused on acquisition opportunities in precision marketing, martech and digital transformation, as well as commerce, media and healthcare.
Forward-looking Statements
Certain statements in this press release related to the impact on our ongoing operating income and anticipated level of disposition activity constitute forward-looking statements, including statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of Omnicom's management as well as assumptions made by, and information currently available to, Omnicom's management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "should," "would," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or similar words, phrases or expressions.
Forward-looking statements are subject to various risks and uncertainties, many of which are outside Omnicom's control. Therefore, you should not place undue reliance on such statements. You should carefully consider this and the other risks and uncertainties that may affect Omnicom's business, including those described in Item 1A, "Risk Factors" and Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Omnicom's most recent Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. Except as required under applicable law, Omnicom does not assume any obligation to update these forward-looking statements.
About Omnicom Media Group
Omnicom Media Group (OMG) is the media services division of Omnicom Group Inc. (NYSE: OMC), a leading global marketing and corporate communications company, providing services to more than 5,000 clients in more than 70 countries. Omnicom Media Group includes full-service media agencies Hearts & Science, OMD and PHD; performance marketing agency Resolution; Optimum Sports Media and Marketing; and the Annalect data and analytics division that developed and manages the Omni marketing operating system underpinning all Omnicom agencies.
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 70 countries. Follow us on Twitter for the latest news.
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SOURCE Omnicom Group Inc.
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