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LONDON (Alliance News) - Media Buying giant WPP PLC Wednesday said that its GroupM operating company has bought New Zealand-based media agency Chemistry Media Ltd, while WPP has increased its stake in TV audience measurement software supplier TechEdge SPA to 49% from 20%.
It didn't provide any financial details about the transactions.
Chemistry Media is a media planning and buying agency with operations in Auckland and Wellington. Key clients include Bank of New Zealand, Fonterra, Nestlé, and Restaurant Brands, WPP said.
Since 2010, Chemistry has been affiliated with the MediaCom network, and currently trades under the name MediaCom. Following the acquisition, Chemistry will continue to trade as MediaCom, WPP added.
TechEdge is based in Denmark, and had net sales of USD13.6 million for 2014, and gross assets of USD6.3 million at the end of 2014. TechEdge licences software to broadcasters and media companies that allows them to analyse and interpret audience measurement data.
WPP shares were down 0.8% at 1,452.00 pence Wednesday afternoon.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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