LONDON--Advertising firm WPP PLC (WPP.LN) said Monday that it operating company Xaxis has agreed to acquire Action Exchange, Inc. (ActionX), a mobile performance-based marketing business with an e-commerce orientation in the U.S.

WPP shares at 1103 GMT up 19 pence, or 1.2%, at GBP15.59, valuing the company at GBP20.45 billion.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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