WPP: Grey Buys US Mobile App Development Firm for Undisclosed Sum
27 Gennaio 2016 - 2:34PM
Dow Jones News
LONDON--Advertising giant WPP PLC (WPP.LN) said Wednesday its
wholly-owned operating company Grey has bought ArcTouch Inc., a
full-service mobile app development company in the U.S., for an
undisclosed sum.
ArcTouch's gross revenues were $14 million as of Dec. 31,
2015.
This acquisition continues WPP's strategy of investing in
important markets and fast growing sectors such as mobile and
digital, it said. WPP's digital revenues were $6.9 billion in 2014,
representing 36% of the group's total revenues of $19 billion.
WPP has set a target of 40%-45% of revenue to be derived from
digital in the next five years.
Shares at 1300 GMT up 7 pence, or 0.48%, at 1470 pence.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
January 27, 2016 08:19 ET (13:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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