Omnicom acquires Ketchum

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Omnicom Group reached an agreement late on Wednesday to acquire Ketchum Communications Holdings, the Pittsburgh-based marketing communications group. Financial terms were not disclosed, but there is a letter of intent to merge through an exchange of shares and the merger will be accounted for as a pooling of interests. Ketchum consists of Ketchum Public Relations, Ketchum Advertising and Ketchum Directory Advertising, with a total of $1 billion in billings and 1,100 employees. The entities will operate as wholly owned subsidiaries of Omnicom.

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