WPP subsidiary Possible acquires US-based mobile developer

WPP has taken another step forward in strengthening its digital media portfolio after announcing its subsidiary Possible has acquired US-based mobile developer Double Encore.The advertising and media giant did not release any financial details regarding the acquisition which is expected to add to the firm's expanding digital services.Double Encore, which develops iOS and Android mobile apps, generated unaudited revenues of $8m in 2013.The Denver-based firm's clients include Major League Soccer, JetBlue, PGA TOUR, Kingston Technology Company and Mered ith Corporation. The investment falls in place with WPP's plan to derive 40-45% of its revenue from digital in the next five years. The FTSE 100 constituent generated digital revenues of over $6bn in 2013.As of 11:43 the share price had dropped 0.8% to 1,165p.WS