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WPP Acquires Assets of AKQA Holdings for Undisclosed Sum

LONDON--Advertising group WPP PLC (WPP.LN) said Wednesday that it has agreed to acquire the assets of AKQA Holdings Inc, a digital agency. MAIN FACTS: -AKQA currently employing 1160 people worldwide - from software engineers and technologists to creatives and strategists - the agency operates through offices in the U.S., Europe and Asia. -The agency had gross assets of $282 million as at Dec. 31, 2011 and forecasts revenues of around $230 million in 2012, having achieved $189 million in 2011. -AKQA will continue to operate as an independent and stand-alone brand within WPP and be led by founder and CEO Ajaz Ahmed and Chairman Tom Bedecarre. -Tom will also become President of WPP Ventures, a new Silicon Valley-based company, which will explore new digital investment opportunities for WPP as a whole. -Other appointments to the Board of WPP Ventures will be made in due course. -WPP Shares at 1133 GMT, up 11 pence, or 1.43%, at 778 pence valuing the company at GBP9.67 billion. -Write to Rory Gallivan at [email protected]

Stock News for Wpp (WPPGY)
DateTimeHeadline
03/24/201716:16:31Report of Foreign Issuer (6-k)
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03/17/201715:01:14Report of Foreign Issuer (6-k)
03/16/201712:02:00WPP Agrees to Acquire Majority Stake in Bruketa&Zinic OM
03/16/201711:37:00WPP Agrees to Acquire Majority Stake in Bruketa&Zinic OM
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03/07/201700:01:00U.S. News, Y&R's BAV Consulting and the Wharton School Unveil...
03/07/201700:01:00U.S. News, Y&R's BAV Consulting and the Wharton School Unveil...
03/07/201700:01:00U.S. News, Y&R's BAV Consulting and the Wharton School Unveil...
03/06/201717:28:31Report of Foreign Issuer (6-k)
03/04/201703:02:00WPP Forecasts Slow Ad Growth -- WSJ
03/03/201712:32:00WPP Shares Slide as Revenue Growth Slows -- 3rd Update
03/03/201710:31:54Report of Foreign Issuer (6-k)
03/03/201707:00:00WPP 2016 Preliminary Results
03/03/201703:59:00WPP Shares Slide as Revenue Growth Slows -- 2nd Update
03/03/201703:27:00WPP Quarterly Revenue Growth Slowest Since 2012 -- Update
03/03/201702:40:00WPP Expects Slower Growth in 2017

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