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LONDON (Alliance News) - British advertising and public relations giant WPP PLC Monday said it has acquired a majority stake in Cognifide Ltd, a digital technology consultancy in the UK, and its subsidiary has agreed to acquire a premium and gift specialist in China.
WPP did not disclose any financial details of either acquisition.
Cognifide specialises in content management and digital asset management technology. For the year ended December 31, 2013, Cognifide reported revenues of GBP8.8 million, with gross assets of approximately GBP4.3 million.
WPP said that Cognifide will continue to operate as its own brand within WPP and will co-operate closely across WPP, particularly with the WPP Digital and Wunderman companies.
WPP also said its wholly owned operating company JWT has agreed to acquire Shanghai Egift Design and Production Co Ltd, one of China's premium and gift specialists.
Egift provides total integrated premium and loyalty program gift solutions to clients, ranging from strategy, design, sourcing, prototyping, production through to logistics and distribution.
WPP said Egift will continue to operate independently, as part of JWT's activation, field and shopper marketing operations in China.
For the year ending December 31, 2013, Egift's revenues were RMB27 million, with gross assets of RMB25 million.
WPP shares were trading 0.2% lower after the market open Monday at 1,216.73 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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