LONDON--Advertising giant WPP PLC (WPP.LN) said Monday it is
buying a majority stake in Cognifide Ltd., a digital technology
consultancy in the U.K., for an undisclosed sum.
MAIN FACTS:
-Cognifide specializes in content management and digital asset
management technology, helping companies and brands build
capability through company-wide digital frameworks, to create,
manage and optimize measurable digital experiences.
-Cognifide's unaudited revenue for the year ended Dec. 31, 2013
was 8.8 million pounds with gross assets of GBP4.3 million as at
the same date.
-Separately WPP's operating company, JWT, has agreed to buy
Shanghai Egift Design and Production Co. Ltd., a Chinese premium
and gift specialists, for an undisclosed sum.
-Egift provides total integrated premium and loyalty program
gift solutions to clients, ranging from strategy, design, sourcing,
prototyping, production through to logistics and distribution.
-For the year ending Dec. 31, 2013, Egift's revenues were 27
million Chinese Yuan, with gross assets of CNY 25 million, as at
the same date.
-Acquisitions are part of WPP's strategy of strengthening the
Group's capabilities in fast-growing sectors and markets; Group is
targeting at least 40%-45% of revenues to be derived from digital
in the next five years.
-Shares at 0845 GMT down 8 pence, or 0.66%, at 1210 pence
valuing the company at GBP16.21 million.
-Write to Ian Walker at ian.walker@wsj.com
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