Global Reporting Initiative Reports
Report any significant changes during the reporting period regarding the organization’s size, structure, ownership, or its supply chain, including: Changes in the location of, or changes in, operations, including facility openings, closings, and expansions Changes in the share capital structure and other capital formation, maintenance, and alteration operations (for private sector organizations) Changes in the location of suppliers, the structure of the supply chain, or in relationships with suppliers, including selection and termination
There have been no significant changes during the reporting period in IPG's size, structure, ownership, or supply chain.
In 2019, IPG opened an office in Hong Kong with space totaling 61,000 square feet.* IPG identifies significant leases as those that represent locations over 50,000 square feet. Additional facility change affecting locations with less than 50,000 square feet are considered non-significant changes.
In 2019, IPG formed Kinesso, a new company focused on creating applications that help marketers amplify the impact of traditional and addressable media through the better use of data. Kinesso does so by creating new software and products that deliver data trust and security tools, data-driven campaign optimization, and precision audiences. Kinesso is comprised of Cadreon, IPG’s addressable media activation experts, and the company’s Data and Technology group. Kinesso works in close partnership with IPG Mediabrands and Acxiom, and provides services to agencies across the IPG network.
In 2019, IPG completed one acquisition, a content communications agency based in the U.K. This acquisition was included in IPG’s Integrated Agency Networks (IAN) reportable segment. During 2019, we recorded approximately $7.6 million in goodwill and other intangible assets related to our acquisitions.
More information on IPG’s past acquisitions can be found in our 2019 Annual Report on page 70.
*In 2020, due to the COVID-19 pandemic, IPG vacated approximately 40,000 square feet of the space in Hong Kong, part of an overall reduction of 1.7 million square feet globally (or 11% of our total space). This represents a reduction in square foot per employee, as our workforce shifted to working-from-home and IPG’s implementation of flexible working schedules.