WPP buys majority stake in sports marketing agency Two Circles

Advertising giant WPP has acquired a majority stake in sports marketing agency Two Circles.Following the deal, the London-based agency will become part of ESP Properties, the new sport rights agency launched by GroupM, WPP's media-buying arm.In a statement released on Tuesday, WPP said Two Circles will continue to operate as a stand-alone business within ESP Properties and be led by chief executive Matt Rogan and managing director Gareth Balch, adding the acquisition was in line with its strategy of developing its services in fast-growing markets as well as strengthening its digital capabilities.Two Circles, whose clients include the England and Wales Cricket Board, Valencia CF, Liverpool FC, Ascot Racecourse, Harlequins, Bath and Wasps Rugby, employs 55 people working across 10 international markets.WPP shares were up 0.77% to 1,572.00p at 11:30 on Tuesday.