Communications Company WPP Buys US Digital Agency iStrategyLabs
August 02 2016 - 8:55AM
Dow Jones News
By Olga Cotaga
LONDON--WPP PLC (WPP.LN) said on Tuesday it is buying the
digital agency iStrategyLabs LLC in the U.S. through its
wholly-owned marketing communications agency Walter Thompson
Company.
The communications services provider said iStrategyLabs eked out
a net revenue of $12.4 million in 2015 and that its clients list
includes Kroger, Medtech and U.S.A Network.
WPP has started to invest in digital, focusing on the U.S.
market, it said, adding that it wants to see 40%-45% of its revenue
driven by digital in the next five years.
The company didn't disclose how much it will pay for the U.S.
business.
Shares at 1215 GMT were down 6 pence, or 0.4%, at 1691 pence,
valuing the company at 21.74 billion pounds ($28.7 billion).
Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter
@OlgaCotaga
(END) Dow Jones Newswires
August 02, 2016 08:40 ET (12:40 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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