WPP's operating company Wunderman has acquired a majority stake in Mayko Trading's Bienalto, a digital marketing and analytics consultancy in Sydney.
Wunderman -- a leading global relationship marketing network with revenues of about $1bn -- said the investment reflected the group's commitment to expanding its digital capabilities.
Bienalto was founded in 2005 and is based in Sydney where it provides expertise in designing and optimising digital platforms.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company has 24 employees and its clients include Suncorp, Colonial First State Global Asset Management, Dan Murphy's, Bell Direct, Frontline Systems, Flordis, Engineers Australia and the Federal and State Governments.
WPP said it the acquisition would facilitate growth in the company. Digital revenues represented 30% of the the FSTE 100 company's total global revenues of more than $16 billion in 2011.
WPP, which has a market capitalisation of £11,227m, has set a target of 35-40% of revenue to be derived from digital over the next five to 10 years.
Shares were up 0.40% to 886.50p at 8:53 Thursday.
RD
