Wunderman acquires majority stake in Bienalto
WPP's operating company Wunderman has acquired a majority stake in Mayko Trading's Bienalto, a digital marketing and analytics consultancy in Sydney.
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Higher rates are disappearing – should you fix your savings?
Fixed savings rates have dropped to their lowest levels in over a year. Should you fix your savings now ahead of a potential base rate cut in November?
By Katie Williams Published
-
Nine million people fall victim to financial scams, says Citizens Advice
The charity says that around one in five people across the UK have been caught out by a finance scam in the past year - here is how to protect your money
By Chris Newlands Published