WPP’s GroupM is in talks to acquire independent digital media agency Essence, according to reports.

The Wall Street Journal claims that GroupM is “nearing a deal” to acquire the London-based agency, which buys over $700m-worth digital media each year.

The financial terms of the deal are not known.

Founded in 2005, Essence has offices in Tokyo, Singapore, Seattle, New York and San Francisco, and around 450 employees. In 2013/14, it recorded annual revenues of £211.4m ($325m).

Its clients include Electronic Arts, the Financial Times, Google, HP, Netflix, Tesco Mobile, Viber, Visa and Walgreens.

The agency is led by former Razorfish boss Christian Juhl, who joined as North America CEO in 2013, before becoming global chief executive in May 2014. Juhl is based out of San Francisco.

Neither Essence nor GroupM would not comment on the reports.

Last week, WPP revealed it has completed 38 acquisitions in the first nine months of the year, the majority of which involve companies with digital and data expertise.