WPP snaps up Press Index
WPP, the advertising world's answer to the Borg in Star Trek, has announced it second acquisition of the week, and this time it is a French agency that is to be assimilated.
WPP, the advertising world's answer to the Borg in Star Trek, has announced it second acquisition of the week, and this time it is a French agency that is to be assimilated.
WPP's wholly-owned operating network Kantar has agreed to acquire 87% of the share capital of Press Index in France at a price of €6.81 per share.
Once the deal has been completed Kantar will make arrangements to buy out the minority shareholders in Press Index at the same price.
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Founded in 1997 and head-quartered in Boulogne Billancourt, near Paris, Press Index is a search and media intelligence agency, employing around 210 people across offices in France, UK, Spain and Italy.
Press Index's consolidated audited revenues for the year ended 31st December 2011 were €17.5m, and at the end of 2011 it had gross assets of €12m.
On Tuesday, WPP announced the acquisition of a 70% stake in Foster Informatica, a digital agency based in So Paulo, Brazil.
JH
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