Marketing and advertising giant WPP has bought a "strategic" stake in Dolphin Software, the owners of the mySupermarket price comparison service.
The $7m outlay by Sir Martin Sorrell's group has bought a minority stake in Dolphin, which has seen mySupermarket's growth at around 100% year on year.
WPP says the stake will strengthen its capabilities in eCommerce, particularly in relationship to packaged goods which is important for many of the company's largest clients.
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
WPP shares were down 1.3% by 11:38.
BS
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
