LONDON (Alliance News) - Advertising and public relations giant WPP PLC Wednesday said its subsidiary Millward Brown has acquired Romanian market research agency Daedalus for an undisclosed fee.
WPP said the acquisition of Bucharest-based Daedalus will provide Millward Brown with a presence in Central and Eastern Europe. Millward Brown is research agency specializing in advertising, marketing communications and media
Daedalus' clients include drink companies Diageo PLC, Pepsi and telecommunications business Vodafone.
For the year ended December 31, Daedalus posted revenue of EUR3.5 million.
WPP shares were quoted up 0.4% at 1,244.00 pence Wednesday morning.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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WPP (WPP)
