The business added that there are no plans to integrate any other Grey studio into AKQA.
Ajaz Ahmed, AKQA’s founder and CEO, added: “We are proud to partner with Laura’s team and believe the Grey brand has lasting value. Driving operational excellence is core to our mission of delivering sustainable growth and in service of building a leaner, more agile agency to improve our performance and better enable our long-term vision.”
WPP began its efficiencies drive in 2019 with the aim of saving over $750 million (£600 million) by 2025. During that time, it has merged a number of its agency brands, most recently including communications companies Hill & Knowlton and BCW to form Burson, and Wunderman Thompson and VMLY&R to form the world’s largest creative agency, VML.
In 2024, WPP is targeting savings of $222 million (£175 million) from an efficiency drive. with further cost savings of $158 million (£125 million) eyed in 2025.