LONDON (Alliance News) - WPP PLC said Tuesday that its global media investment management arm, GroupM, has acquired plista, a German digital media company.
The acquisition comes after GroupM identified potential in developing the media firm as part of its digital specialist portfolio, in tandem with Xaxis and Quisma, said the firm.
Plista is an online advertising specialist bringing advertisers and publishers together via its data-driven proprietary content and advertising platform. The company operates in Germany, Austria and Switzerland with clients including Volkswagen, Sony and Coca-Cola. Plista's revenues for the year ended 31 December 2012 were EUR3.9 million with gross assets as at the same date of EUR2.9 million.
WPP said that the acquisition marks a further step toward the company's goal of developing its networks in "fast-growth" markets and sectors as it works on its strategy to strengthen its digital media capabilities. WPP digital revenues were well over USD5 billion in 2012 and represented 33% of total Group revenues of USD16.5 billion.
WPP is targeting at least 40-45% of revenues to come from each of fast-growth markets and new media over the next five years, it said.
Shares in WPP were trading at 1,360 pence per share Tuesday morning, down 0.07%.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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