WPP takes stake in apps tech firm

Just as a shark has to keep moving or die, so it seems advertising agency WPP has to do an acquisition or its chief executive, Sir Martin Sorrell, ceases to exist.

As acquisitions go, the latest - a purchase of a minority stake in mobile device based consumer insight company, Lumi Technologies - is on the small side, but it continues WPP's strategy of investing in early stage ventures in fast growing markets and sectors.

Founded in 2008 by Rolfe Swinton, Mark Beilby, Marcus Wikars and Magnus Holtlund, Lumi provides mobile engagement services to a broad range of clients and will partner with Kantar, WPP's consumer insight group, in order to further develop Lumi's technology platforms. Through its proprietary RE4CTOR software, Lumi's technology platforms allow the creation of real time event apps that can be used on any mobile device.

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Lumi has offices in London, New York and Finland and employs 27 people. Its key clients and partners include EMI, Endemol and Channel 4 in the UK, ABC in the US and Mediaset and YLE in Europe.

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