WPP, the highly acquisitive media and advertising giant led by frontman Sir Martin Sorrell, has announced that Possible Worldwide, its interactive marketing agency, has acquired a majority stake in Fortune Cookie, a full service digital marketing services agency.
Fortune, which specialises in providing design and build, mobile and tablet apps and site development, online marketing services and digital strategy, will combine its business with that of Possible Worldwide in the UK to provide an enhanced service offering to its global clients.
Fortune's consolidated revenues for the year ended August 31st 2011 were around £9.4m, with gross assets at the same date of around £2.8m.
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 agency, which employs over 190 people, is headquartered in London with operations in Poland, the Netherlands, US and Australia.
"This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors and strengthening its capabilities in digital media," WPP said in a statement.
NR
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
