WPP PLC Grey acquires hug digital in Dubai (8851N)
August 14 2017 - 4:00AM
UK Regulatory
TIDMWPP
RNS Number : 8851N
WPP PLC
14 August 2017
FOR IMMEDIATE RELEASE 14 August 2017
WPP PLC ("WPP")
Grey acquires full-service digital agency hug digital in
Dubai
WPP announces that its wholly-owned operating company Grey, the
global marketing communications agency, has acquired a majority
stake in hug digital ("hug") in Dubai. hug is a leading Middle
East-based digital agency that provides services including
campaigns, social media, research, content marketing and influencer
marketing. Clients include international, regional and local brands
such as Americana, Al-Futtaim automotive group, Dubai Tourism and
Shell.
hug's revenues for the year ended 31 December 2016 were
approximately AED19 million, with gross assets of approximately
AED7.4 million as at the same date. In addition to its Dubai
headquarters, hug has offices in Egypt and India. In total the
agency employs around 145 people.
This acquisition continues WPP's strategy of developing its
services in important markets and sectors and strengthening its
capabilities in digital marketing and media. In the MENA region,
WPP companies, including associates, generate revenues of over
US$400 million and employ nearly 4,000 people. WPP's digital
revenues were over US$7.5 billion in 2016, representing 39% of the
Group's total revenues of US$19.4 billion. WPP has set a target of
40-45% of revenue to be derived from digital in the next four to
five years.
Contact:
Feona McEwan, WPP London +44(0) 20 7408 2204
Chris Wade, WPP London
This information is provided by RNS
The company news service from the London Stock Exchange
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