Cerebra sells majority stake to WPP
Continuing WPP's strategy of developing its services in fast-growing and important markets and sectors and strengthening its capabilities in digital media, it has purchased a majority stake in Cerebra, a strategic communication agency known for building, engaging and activating brand communities for clients including Vodacom, Nedbank, Hollard, Absa and Autopage.
WPP's digital revenues (including associates) were well over US $5 billion in 2012, representing 33% of the group's total revenues of US $16.5 billion. It has set a target of 40-45% of revenue to be derived from digital in the next five years. In South Africa, the group (including associates) generates revenues of around US $550 million and employs over 25,000 people. Across the continent of Africa, it collectively generates revenues of US $700 million and employs over 27000 people. ?
The deal positions Cerebra perfectly to take advantage of the growing social media and social business opportunity within South Africa and across the continent. It will be positioned centrally within WPP to service partners across the group and will help effect the roll out of social media and social business solutions across the African continent.
Says Cerebra CEO, Mike Stopforth, "The company has actively helped define the industry of social media communication and social business transformation in South Africa for many years. WPP's success in South Africa, its equity footprint in Africa and its global thought leadership in strategic communication makes it a relevant and suitable partner for us."
For more information, go to www.cerebra.co.za.
