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.
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
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
-
Nationwide hikes FlexPlus current account fee by £5 a month – is it worth it?Nationwide’s FlexPlus current account is a favourite with customers, but it’s worth checking whether you are taking advantage of the perks after the monthly fee went from £13 to £18
-
Santander launches online pension that offers up to £1,000 cashbackSantander's self-invested personal pension offers customers cashback of up to £1,000 if they invest before 25 April next year - here is everything you need to know
