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JWT acquires majority stake in Wanda Digital

5 Aug 2016

J Walter Thompson, a subsidiary of WPP, has acquired a majority stake in Wanda Digital, an independent digital agency in Turkey, following its initial 2015 investment.

JWT acquires majority stake in Wanda Digital

Founded in 2006 and employing around 80 people in Istanbul, the agency’s clients include Media Markt, Nestle, Turkcell, Ülker and Unilever. It offers a range of services including campaigns, social media, platform development and games and apps. Its unaudited revenue for the year ended 31 December 2015 was approximately $ 2.7m, with gross assets at the same date of approximately $ 1.5m.

Turkey has been named one of the next 11 growth economies where WPP companies (including associates) generate revenues of over $1bn and employ around 12,000 people. In Turkey, WPP companies (including associates) generate revenues of around $140m and employ approximately 1,500 people.

This deal continues the group’s strategy of investing in important markets and sectors and strengthening its capabilities in digital. The group’s digital revenues were over $7bn in 2015, representing 37% of its total revenue of $19bn. WPP has set a target of 40-45% of revenue to be derived from digital in the next five years.