LONDON (Alliance News) - WPP PLC Wednesday said its digital marketing subsidiary VML has agreed to acquire US-based digital advertising and marketing agency Biggs Gilmore Communications Inc. for an undisclosed fee.
Advertising company WPP said this is VML's third transaction this year.
In October it bought IM2.0, a digital advertising and media agency in China, while in June it acquired a majority stake digital marketing agency NATIVE based in South Africa.
The agency also entered the Japanese market with the launch of VML Tokyo in March.
WPP said it wants at least 40-45% of its revenue to come from "fast-growth" markets and new media over the next five years.
It was the second WPP acquisition Wednesday. Earlier, it said it has acquired a majority stake in social media agency Plasenta Conversation Agency. Again, it didn't provide any financial details.
Plasenta is based in Istanbul, Turkey. Its revenues in 2012 were TRY3.5 million, with gross assets of TRY1.5 million. Revenues in the twelve months to September 2013 were TRY7.3 million, WPP said.
The stock was trading at 1,326.00 pence Wednesday afternoon, down 4.00 pence
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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