WPP Share News (WPP)

WPP, the FTSE 100 advertising and public relations company, has acquired a majority stake in South African firm Cerebra Communications, an integrated strategic communication agency based in Johannesburg.The acquisition forms part of WPP's strategy of developing its services in fast-growing and important markets and sectors while strengthening its capabilities in digital media. The group has set itself a target of 40-45% of revenue to be derived from digital in the next five years.Cerebra, which was founded in 2006 and employs 35 people, builds "brand communities", with services including community management, crisis management, social business strategy and creative communication campaigns. Cerebra will retain its independent positioning and will work closely with other WPP companies in South Africa and across Africa, WPP said. For the year ended February 2013, Cerebra generated revenue in the region of ZAR 17m (c.£1.0m), with gross assets at that date of ZAR 4.1m (c.£84,500). The share price rose 0.97% to 1,360p. NR