WPP subsidiary acquires Conrad Caine in Germany
Possible Worldwide, the glocal digital agency of WPP, has agreed to acquire a majority stake in digital agency, Conrad Caine, a full service digital agency headquartered in Munich, Germany.
Founded in 1998, Conrad Caine delivers digital strategy, user experience, asset creation, campaigns and CRM to its clients. Conrad Caine employs 140 people at its headquarters in Germany and other offices in Pelotas, Brazil and Buenos Aires, Argentina. Its revenues for the year ended 31 December 2014 were approximately €8.5m with gross assets of approximately €3.6m as at the same date.
WPP companies in Germany generate revenues of approximately US $1.3bn and employ around 7000 people (including associates). On this basis, Germany is WPP's fourth largest market after the US, the UK and China.
