WPP Acquires Majority Stake in Hong Kong-Based Digital Consultancy
December 18 2017 - 4:49AM
Dow Jones News
By Adam Clark
WPP PLC (WPP.LN) said Monday that it acquired a majority stake
in Hong Kong-based digital design and software-engineering
consultancy ARBA for an undisclosed price.
The advertising and PR company said the acquisition has been
made by its communications subsidiary Ogilvy & Mather,
increasing WPP's capabilities in digital strategy.
For ARBA's financial year ended March 2017, revenue was 17.3
million Hong Kong dollars ($2.2 million), with net assets of HKD5.8
million, said WPP.
WPP shares are down 7 pence, or 0.5%, at 1382 pence at 0908
GMT.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
December 18, 2017 04:34 ET (09:34 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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