DC digital advertising and design firm iStrategyLabs has been acquired by the J. Walter Thompson Company, a subsidiary of multinational advertising firm WPP. The terms of the deal were not disclosed. The nine year old company founded by Peter Corbett counts companies like Kroger, Volkswagen, MillerCoors and NBC Universal as clients.
In a letter announcing the acquisition, Corbett said the move will help ISL play at a higher level in the digital advertising world.
"Over time, it became clear to me that this company had grown up and needed a bigger canvas to paint on. With nearly 90 people on the team, we’re no longer a small company. We’re no longer a minor league player. And while I’m sure we’ll retain our scrappy underdog mentality — we’ve done a deal so that our major league ambitions can be fully realized."
ISL's net revenue in 2015 was $12.4 million, and it employs 80 people in its Wonderbread Factory office. The company will continue to operate independently out of Washington D.C., while building an office within J. Walter Thompson Company HQ in New York, according to a release.
