Acquisitive advertising conglomerate WPP announces that its wholly owned operating company, Ogilvy, a global marketing communications group, has acquired a 33.33% stake in the capital of DTDigital, a digital marketing firm in Australia.
DTDigital's unaudited gross revenues as at December 31st 2011 were around A$14.38m with total assets of A$4.76m at the same date.
In a statement, the firm said: "This investment reflects the group's commitment to grow its digital assets and to support this growth with a strong independent technology capability."
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
Based on consensus forecasts for 2011, WPP's digital revenues will total over $4.5bn and almost 30% of its projected $16bn revenue. WPP has set a target of 35-40% of revenue derived from digital in the next five years.
The share price fell 0.27% to 740.5p by 10:52.
NR
-
What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about
