Advertising agency holding company Omnicom Group Inc., whose accounting methods have recently been called into question in published reports, has bought Philadelphia direct marketing agency TPG Inc.
The acquisition was made through New York-based Omnicom's Diversified Agency Services marketing services and specialty communications division. Terms were not disclosed.
“We thought that Omnicom and the multitude of companies they own might present opportunities to grow faster than we could on our own,” said Joe DeLago, CEO of TPG. “Acquiring new clients is always a big challenge for any agency. To the extent that we can get help with that challenge, we welcome it.”
Handling mostly financial institution accounts, TPG operates through three subsidiaries, Topak Marketing, The Peter Group and AI Advertising. AIG Marketing Inc., a wholly owned subsidiary of insurer American International Group Inc., is TPG's biggest client. Other clients include New York Life Co., MetLife Property Casualty and 21st Century Insurance Group.
