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.. 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).

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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.

MF