Last checked at 20 Apr 2016 08:00
FOR IMMEDIATE RELEASE | 20 April 2016 |
WPP PLC ("WPP")
Burson-Marsteller agrees to acquire majority stake in Effect PR in Turkey
WPP announces that Burson-Marsteller, its wholly-owned global public relations and public affairs firm, has agreed to acquire a majority stake in Turkish communications firm Effect PR.
Headquartered in Istanbul, Effect PR employs around 80 people and has been Burson-Marsteller's exclusive affiliate partner in Turkey since 2012. Following the acquisition, it will become a full member of the network and be renamed Effect Burson-Marsteller.
Effect's clients include Microsoft and General Electric. Unaudited net sales for the year ended 31 December 2015 were approximately US$2.5 million, with gross assets at the same date of approximately US$3.3 million.
This acquisition continues WPP's strategy of investing in important markets and sectors. Turkey is one of the Next 11 growth economies where WPP companies (including associates) generate revenues of over US$1.0 billion and employ over 11,000 people. In Turkey itself, WPP companies (including associates) have revenues of around US$140 million and approximately 1,500 people. WPP's public relations and public affairs companies collectively generate revenues (including associates and investments) of around US$2 billion and employ over 11,000 people worldwide.
Contact:
Feona McEwan, WPP | + 44(0) 207 408 2204 |
Chris Wade, WPP |