The deal includes an initial £12 million in cash with an additional £6 million available depending on the agency’s performance over the next two years.
Shane Quigley and Robin Skidmore founded Epiphany in 2005. The agency has 140 staff across offices in Leeds and London. It works with brands including Virgin Holidays, Tesco, Axa Insurance and Pets at Home.
Quigley and Skidmore will continue at the agency, with the former taking on a product development role alongside retaining responsibility for Epiphany Australia and the latter developing Shackleton, its social PR operation.
Rob Shaw, the group chief executive of Epiphany, will continue to run the search agency.
Martin Boddy, the chief executive at Jaywing, said: "This ambitious acquisition is another big step forward in our reinvention. By focusing on digital opportunities to marry data science with brand, acquisition and customer marketing, we will achieve superior results for our clients and better experiences for their customers.
"Epiphany is a vital piece in our jigsaw as it will provide our unrivalled team of over 50 data scientists with access to the digital data which will fuel our innovation."