WPP's GroupM Acquires Turkish Media Agency

Fri, 02nd May 2014 08:41

LONDON (Alliance News) - WPP PLC said Friday its media investment management company, GroupM, has acquired a majority stake in Turkish mobile media agency and mobile technology company, aMVG (Aerodeon).

aMVG (Aerodeon) specialises in developing mobile media strategies and technologies.

No financial terms of the deal were disclosed.

The investment continues WPP's strategy of developing its services in growing markets and sectors and strengthening its capabilities in digital media; the firm has set a target of 40-45% of revenue to be derived from digital in the next five years.

WPP shares were trading 0.23% higher at 1,289 pence per share Friday morning.

By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance

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