Omnicom To Acquire German Ad Agency antoni, PR Agency OSK For Undisclosed Sum

Omnicom Group Inc OMC has agreed to acquire Berlin-based digitally-native advertising agency, antoni, for undisclosed financial terms.
antoni has grown to over 170 people and expanded its services to several brands. The antoni transaction will likely close in Q1 of 2022.
antoni was founded by André Kemper, Managing Director and Chief Creative Officer, and Tonio Kröger, Managing Director and CEO, who will continue to serve in their current roles following the transaction's closing.
Omnicom also agreed to acquire German public relations and communication agencies Oliver Schrott Kommunikation GmbH (OSK). The financial terms of the transaction remain undisclosed. OSK serves best-known brands, including Mercedes-Benz.
Since its founding in 1993, OSK has established an international presence with more than 225 people located in offices in Germany, China, and the U.S.
Omnicom expects the OSK transaction to close in Q4 of 2021.
OSK will continue to be led by President and CEO Oliver Schrott and operate as a stand-alone brand within Omnicom Public Relations Group.
Omnicom held cash and equivalents of $4.39 billion as of June 30, 2021.
Price Action: OMC shares traded lower by 1.94% at $71.67 on the last check Monday.