WPP, which is not wholly adverse to the odd acquisition now and again, has announced that it is to acquire a majority stake in Russia-based digital marketing services agency, Grape.
Grape's major clients include Henkel, JTI, MTS and SABMiller. Its consolidated unaudited revenues for the year ended December 31st were around RUB 425m with gross assets as at the same date of around RUB 216m.
This investment, carried out through WPP's wholly-owned operating network Possible Worldwide, which forms part of WPP Digital, continues the advertising conglomerate's strategy of developing its services in fast-growing markets and sectors, and strengthening its capabilities in digital media.
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The share price fell 1.33% to 777p.
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