WPP buys stake in Finnish communications agency

WPP, the media titan headed by Sir Martin Sorrell, has already made its fourth acquisition of 2012 with the purchase of a majority equity stake in Finnish communications agency Viestinttoimisto Pohjoisranta Oy (Pohjoisranta)

The Helsinki-based firm has been an exclusive affiliate partner in Finland to WPP's public relations and public affairs division, Burson-Marsteller, since 2006. It will now join the WPP network as Pohjoisranta Burson-Marsteller.

Pohjoisranta, which employs 40 people, generated €5.1 in revenue in 2011, with gross assets at the end of the year of €1.8m.

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

"This acquisition continues WPP's strategy of investing in important markets and sectors. WPP businesses in Scandinavia, including associates, generate revenues of over US$500 million and employ nearly 3000 people," WPP said.

No financial information related to the transaction was given, nor was any information regarding the size of the "majority stake".