WPP brings a 'young turk' on board
FTSE 100-listed advertising and marketing giant WPP has announced that its wholly-owned operating company, Y&R, acquired a majority stake in the Istanbul-based digital advertising agency CS Reklam Hizmetleri Sanayi Ve Ticaret A.Ş. which trades as 'C-Section'.
FTSE 100-listed advertising and marketing giant WPP has announced that its wholly-owned operating company, Y&R, acquired a majority stake in the Istanbul-based digital advertising agency CS Reklam Hizmetleri Sanayi Ve Ticaret A.. which trades as 'C-Section'.
C-Section specialises in creating microsites, apps and digital campaigns for the Turkish market.
Its unaudited revenues for the year ending December 31st 2012 were TRY 7.5m (£2.75m), with gross assets as at the same date of TRY 3.0m (£1.10m).
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The agency will retain its independent identity and will not be merged with Y&R Istanbul.
The investment continues WPP's strategy of developing its services in fast growing markets and sectors.
In Turkey itself, WPP companies including associates employ nearly 1,000 people, generating revenues of $100m.
WPP's share price was up 0.58% to 1,039p at 10:20 on Thursday.
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