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
-
Lloyds, Halifax and Bank of Scotland to shut another 45 branchesLloyds Banking Group, which includes Halifax and Bank of Scotland, is set to close a further 45 branches in 2024 - find out if a branch near you is closing.
-
US stock trading app Robinhood launches in the UK
The low-cost trading platform has opened another waiting list for British investors - following two failed attempts to launch in this country - and is hoping to be fully operational next year.
