WPP buys Chinese gift specialist

FTSE-100 listed WPP announced the acquisition of a Chinese gift specialist firm on Monday.Egift, which provides total integrated premium and loyalty programme gift solutions, will continue to operate independently as part of WPP's wholly-owned operating company, JWT, within its activation, field and shopper marketing operations."This acquisition marks a further step towards WPP's declared goal of developing its networks in fast-growth markets and sectors," the group said."WPP recently raised its targets from 35-40% for each of fast-growth markets and new media to at least 40-45%, over the next five years."The company also announced the acquisition of a majority stake in Cognifide, a UK digital technology consultancy that specialises in content management and digital asset management technology. NR