LONDON--Advertising giant WPP PLC (WPP.LN) said Wednesday its wholly-owned operating company Grey has bought ArcTouch Inc., a full-service mobile app development company in the U.S., for an undisclosed sum.

ArcTouch's gross revenues were $14 million as of Dec. 31, 2015.

This acquisition continues WPP's strategy of investing in important markets and fast growing sectors such as mobile and digital, it said. WPP's digital revenues were $6.9 billion in 2014, representing 36% of the group's total revenues of $19 billion.

WPP has set a target of 40%-45% of revenue to be derived from digital in the next five years.

Shares at 1300 GMT up 7 pence, or 0.48%, at 1470 pence.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

January 27, 2016 08:19 ET (13:19 GMT)

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